Bitcoin miner Marathon mines invalid block in failed ‘experiment’
Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations.
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Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations.
Despite the earnings miss, Marathon's CEO said it mined a record 2,926 Bitcoin over the second quarter of 2023.
Marathon Digital also noted that the decrease in transaction fees for June was not a cause for concern, highlighting that Bitcoin Ordinals had provided a boost in the previous month.
The first subpoena was given to Marathon in the third quarter of 2021, concerning whether it may have violated federal securities laws relating to its data center in Hardin.
ASIC miners' price per terahash has fallen more than 80% from its peak in 2021 as Bitcoin mining machines continue to flood the marketplace.
The United States-listed Bitcoin miner has produced at least 1,231 Bitcoin since the start of July and has sold none of it to date.
Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition…
Share prices of Marathon Digital stock dropped, as did those from major crypto mining firms including Riot Blockchain, Bitfarms, Bit Digital and Hut 8.
The mining firm said it expects its fleet of 133,000 miners to produce a hash rate of roughly 13.3 EH/s by 2023.
"We remain optimistic that we are well positioned to scale our hash rate to 13.3 EH/s by the middle of 2022,” said Marathon Digital CEO Fred Thiel.