MARATHON STILL GOES OFFLINE BY 75%
Bitcoin mining company Marathon Digital Holdings has revealed that 75% of its mining capacity has not been operational since a major hurricane in Montana on June 11th.
Marathon finally released a statement on its website on June 28 stating that the storm had hit the town of Hardin, Montana on June 11, damaging the power station that supplies Marathon's local mines. According to the company, "initial electrical tests found that most of the Company's miners were not seriously injured in the storm."
The company noted that 30,000 devices, or 75% of the company's vessels, have not been operational since the storm. Bitcoin blockchain inspectors show that miners were down for two and a half weeks.
"With these offline miners, Bitcoin Marathon production is expected to be significantly reduced until the renovation of the Montana power plant can be completed or until the miners are relocated to new facilities."
Marathon noted that the facility will remain without electricity until the damaged power line from BeoWulf Energy is repaired.
Marathon chief executive Fred Thiel said the center could start mining again at a lower cost in early July if some repairs were done early.
It has directed its remaining capacity to contribute to foreign mining ponds while repairing the damaged facility.
"Marathon identifies its remaining active miners, representing approximately 0.6 EH / s, away from the Company's mining lake, MaraPool, and to the foreign company's mining area to increase the chances of obtaining Bitcoin."
Exahash per second (EH / s) refers to the amount of hashpower a miner contributes to protecting the Bitcoin network.
Marathon donated about 3.9 EH / s from 36,830 active miners in May and captured 9,941 BTC worth about $ 201.4 million according to CoinGecko.
Mining difficulties have been at an all-time low since April according to Bitcoin network tracker Coinwarz.
The company said 19,000 miners representing 1.9 EH / s were stationed in Texas and were waiting for the necessary power to open them.
As a result of the hurricane-related operation in Hardin, the company said it was "currently considering whether to speed up the relocation of its miners from Montana to new holdings," which could include immediate deployment to its new Texas facilities to prevent the problem in Hardin from recurring.