{"id":17997,"date":"2024-11-05T09:48:28","date_gmt":"2024-11-05T09:48:28","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17997"},"modified":"2024-11-05T09:48:28","modified_gmt":"2024-11-05T09:48:28","slug":"marathon-digital-and-riot-platforms-hit-highest-bitcoin-production-post-halving","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17997","title":{"rendered":"Marathon Digital And Riot Platforms Hit Highest Bitcoin Production Post-Halving"},"content":{"rendered":"

Bitcoin mining giants Marathon Digital and Riot Platforms have reported their highest monthly <\/span>Bitcoin production figures since the April halving<\/span>, marking a significant recovery for the sector.<\/span><\/p>\n

In October 2024,<\/span> Marathon <\/span>produced 717 <\/span>Bitcoin<\/span><\/a>, valued at approximately $48.8 million.<\/span> CEO Fred Thiel said <\/span>that the<\/span> surge was partly due to a more robust hashrate, which increased over 14% to exceed 40 <\/span>exahashes<\/span> per second. <\/span><\/p>\n

Higher transaction fees during the month also contributed to Marathon\u2019s strong output, which accounted for around 5% of total Bitcoin production.<\/span><\/p>\n

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Marathon Generated $400,000 Worth of <\/span>Bitcoin<\/span><\/h2>\n

Marathon\u2019s<\/span> mining pool, MARAPool, <\/span>along with<\/span> its private mempool, Slipstream, enabled Marathon to generate an additional $400,000 worth of Bitcoin from two high-fee transactions.<\/span><\/p>\n

Notably,<\/span> Marathon achieved this milestone despite facing a 3% decline in block wins due to increased network difficulty.<\/span> The rebound follows the April halving, which reduced the Bitcoin block subsidy from 6.25 BTC to 3.125 BTC, significantly impacting miner revenues in the short term.<\/span><\/p>\n

$MARA<\/a> @MARAHoldings<\/a> October Production report just dropped \u2013 over 700 Bitcoin mined, and MARA becomes the first public miner to cross the 40 EH\/s threshold:<\/p>\n

\u2013 Energized Hash Rate 40.2 EH\/s (+14% MoM)<\/p>\n

\u2013 717 Bitcoin Produced (+2% MoM)<\/p>\n

\u2013 MaraPool continues to be a HUGE\u2026 https:\/\/t.co\/7U1TiiRacw<\/a> pic.twitter.com\/XGQ5lOLapV<\/a><\/p>\n

\u2014 D.R. Lewis (@Charge_Stack) November 4, 2024<\/a><\/p>\n\n

Riot Platforms also reported a solid month, mining 505 Bitcoin valued at about $34.4 million in October, representing a 22.6% increase from the previous month. <\/span><\/p>\n

The growth can be attributed to an enhanced hashrate of 29.4 EH\/s, up from 28.2 EH\/s in September, following <\/span>the installation of<\/span> new MicroBT miners at its Corsicana facility. <\/span><\/p>\n

Despite these impressive production figures, shares of both Marathon (MARA) and Riot (RIOT) saw declines of 3.79% and 4.87%, respectively, on November 4, according to Google Finance data.<\/span><\/p>\n

Looking ahead,<\/span> Riot aims to reach a hashrate of 34.9 EH\/s by the end of 2024 and a long-term goal of 100 EH\/s by 2027, contingent on the <\/span>full<\/span> exercise of its purchase options for more MicroBT miners.<\/span><\/p>\n

Meanwhile, Marathon remains focused on achieving a hashrate target of 50 EH\/s before 2025, which is still considered attainable.<\/span><\/p>\n

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Deutsche Telekom\u2019s T-Systems Launches Bitcoin Mining Pilot<\/span><\/h2>\n

In a separate development, Deutsche Telekom\u2019s subsidiary, T-Systems MMS, has initiated a pilot project in collaboration with Bankhaus Metzler to create <\/span>Bitcoin<\/span> mining infrastructure that utilizes surplus renewable energy. <\/span><\/p>\n

The initiative aims to harness electricity from renewable sources that would otherwise go to waste due to limitations in the energy grid or lack of adequate storage solutions. <\/span><\/p>\n

Dubbed \u201cDigital Monetary Photosynthesis,\u201d the project intends to gather critical data and insights to inform future efforts in stabilizing energy grids.<\/span><\/p>\n

The primary objective of this collaboration is to leverage excess renewable energy for Bitcoin mining, which could help balance supply and demand in the energy grid. <\/span><\/p>\n

The approach mirrors strategies already implemented by miners in Texas, where similar practices have <\/span>been adopted<\/span> to address energy distribution challenges. <\/span><\/p>\n

The hosting partner for the project is Metis Solutions GmbH, and the mining hardware is located at RIVA Engineering GmbH in Backnang, Germany. RIVA Engineering, a manufacturer of metal and glass facades, generates its <\/span>own<\/span> electricity through a photovoltaic system.<\/span><\/p>\n

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The post Marathon Digital And Riot Platforms Hit Highest Bitcoin Production Post-Halving<\/a> appeared first on <\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin mining giants Marathon Digital and Riot Platforms have reported their highest monthly Bitcoin production figures since the April halving, marking a significant recovery for the sector. In October 2024, Marathon produced 717 Bitcoin, valued at approximately $48.8 million. CEO Fred Thiel said that the surge was partly due to a more robust hashrate, which […]<\/p>\n","protected":false},"author":0,"featured_media":17998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17997"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17997"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17998"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}