Texas Heat and Cheap BTC Hit Marathon’s August Production

The decline
in Bitcoin (BTC) prices in August and record-high temperatures in many parts of
the world have led publicly traded cryptocurrency miners to consider the past
month unsuccessful. One such company is Marathon Digital Holdings (NASDAQ:
MARA), which recently released its unaudited operational updates for August
2023. The report reveals a 9% drop in Bitcoin production compared to the
previous month, mainly due to temporary shutdowns of mining operations in red-hot
Texas.

Marathon
produced 1,072 Bitcoin in August, marking a 9% decrease from July. According to
Fred Thiel, Marathon’s Chairman and CEO, the decline was mainly due to
“increased curtailment activity in Texas due to record high
temperatures.” These temporary setbacks overshadowed the company’s efforts
to boost its operational hash rate
Hash Rate

A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain

A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain
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