Bitcoin mining giant Marathon Digital doubles down after halving

To remain profitable, the bitcoin mining giant intends to increase its production capacities by 100% by the end of the year.

After the halving, the news remains on the side of the large bitcoin miners. The latter are forced to produce more to maintain profitability. This is the case, in particular, of the American specialist Marathon Digital. As a reminder, Friday April 19 saw the 4th bitcoin halving. This event consists of halving the number of bitcoins distributed to miners as a reward for securing the network (validating a block of transactions).

In this context, Marathon Digital, listed on Nasdaq, has already planned everything. It plans to increase its production capacity by 100% by the end of the year. This was declared by the group which intends to very significantly increase its hashrate, that is to say its capacity to process operations, to new historical highs. This is calculated in “hexa hashes” per second.

A market capitalization that has doubled

We were around 20 hexa hashes per second at the very beginning of the year. The January objective was to increase to 35 or even 37 hexa hashes by the end of 2024. From now on, the objective is 50 hexa hashes, or approximately 7% of the total computing capacity of the Bitcoin blockchain. An ambitious objective but made necessary by the drop in rewards and by a strong demand for bitcoins which remains on the market from investors who bet on spot bitcoin ETFs.

Marathon Digital is certain of having the financial and technical means, it will detail this in a plan which will be presented soon. Marathon Digital can rely on a market capitalization that has doubled over one year.