Marathon Digital Aims for 50 EH/s Hashrate by End of 2024

Marathon Digital Holdings is on track to achieve a 50 EH/s hashrate by the end of 2024, solidifying its position as a leader in the Bitcoin mining space. The company reported that its energized hashrate reached 35.2 EH/s by August, despite a 3% drop in production during the month.

Marathon’s focus on increasing its operational efficiency and boosting its hashrate comes as miners face challenges from rising network difficulty and decreasing block rewards. The company’s decision to hold on to its 25,945 BTC rather than selling them also reflects confidence in Bitcoin’s long-term value.