The organization has increased its BTC production level by almost 600% year-over-year.
One of the leading cryptocurrency mining companies – Marathon Digital – produced 979 BTC in June, 21% less than the 1,245 BTC mined in May.
Recall that temperatures in the Lone Star State exceeded 35 degrees during the second part of June, whichsome local cryptocurrency mining firms to temporarily halt activities to preserve the electricity network. The company also added 18,500 BTC miners at Applied Digital’s facilities in Ellendale, North Dakota, thus increasing the total fleet to 149,900 machines.
As of the end of last month, the firm had 12,538 BTC . It ended June with $113.7 million in unrestricted cash and cash equivalents on its balance sheet.Marathon Digital experienced operational difficulties throughout 2022, prompted by the prolonged bear market, massive storms, and exposure to the distressed data center – Compute North.2,195 BTC during the first quarter .
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