“In July, we mined 1,176 bitcoins, a 20 percent increase over last month and 1,527 percent more than last July,” said Marathon chairman and CEO Fred Thiel.
The increase in bitcoin production is due to an increase in hashing rates. The miner company’s hash rate rose to 18.8 EH/s.
“Thanks to these improvements, we mined a record number of blocks this month. Total 179 blocks for July, compared to 144 blocks last month and 171 blocks in May,” Thiel added.
Since the beginning of the year, Marathon Digital has mined 6,297 BTC worth $184.3 million. The company expects to further increase its productivity with the introduction of a farm in Garden City, Texas.
Marathon Digital mined 979 bitcoins during June, that’s a 599% increase from June 2022. However, compared to May 2023, the amount of bitcoins mined has decreased by 21%. In May, the company set a record for mining its first cryptocurrency with 1,245 bitcoins, a 77% increase from April.
Earlier, Marathon and the firm Brink announced the launch of a fundraiser to support Bitcoin Core developers.