Marathon Digital Holdings Inc (MARA)

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Marathon Digital to start operations at a reduced capacity this month

Last week Bitcoin miner, Marathon Digital, shared an update on the state of its storm-hit Montana-based facility in Hardin and when it plans to resume mining operations following the recent interruption. The firm halted mining operations in the Hardin site last month because of significant damage to part of its power generating and supply set-up.

The power outage caused by a June 11 storm rendered 30,000 devices (three-quarters of the Marathon’s active fleet) offline. In its damage assessment report, the crypto miner noted that its cooling towers needed repairs. There are also issues in the power generating station that need to be addressed as the firm rushes to be back online as early as this week.

To remain afloat during the period the facility is down, the firm has redirected its active miners (approximately 0.6 exahash) to a third-party mining pool. In April, Marathon Digital revealed it was exploring the possibility of shifting its Bitcoin miners from the coal-powered Montana facility to a location that guarantees sustainable power. The mining firm noted in a press release that it would eye locations with non-carbon emitting power sources and would transition gradually, completing the shift in Q3. No update has been provided on the same so far.

https://www.securities.io/bitcoin-and-ethereum-mining-revenue-slashed-significantly-in-june/