Marathon Digital Sets Ambitious Goal of 50 EH/s in Bitcoin Mining Expansion for 2024

Marathon Digital has announced a significant escalation in its Bitcoin mining operations, targeting an increase in its hash rate from the current 35-37 EH/s to an ambitious 50 EH/s by 2024. This growth strategy is fueled by recent acquisitions which added a 200 megawatt mining center and two additional sites totaling 390 megawatts. This expansion aims to more than double Marathon’s operational capacity without the need for additional capital investment, according to MarathonDH.

Following this announcement, despite a brief dip, Marathon Digital’s stock experienced a 4.5% increase in after-hours trading, reflecting investor optimism. Additionally, the company has enjoyed a 15% increase in stock value following the fourth Bitcoin halving event, which also spiked transaction fees due to increased demand from memecoin and NFT enthusiasts.