Marathon Digital Raises Hash Rate Target to 50 EH/s for Fiscal Year

Bitcoin miner Marathon Digital has set an ambitious new hash rate target for this fiscal year, aiming to reach 50 EH/s by year-end. This represents a significant increase from its initial goal of 37 EH/s, thanks to the recent acquisition of a 200-megawatt Bitcoin mining center.

Marathon’s Chairman and CEO, Fred Thiel, expressed confidence in achieving this new target, highlighting the company’s access to additional hash rate through the acquisition. Thiel also emphasized that the growth target is fully funded, with no need for additional capital.

As the largest publicly traded Bitcoin mining firm in the world, Marathon holds more than 17,000 BTC, according to data from the Bitcoin Treasuries. Despite the recent increase in Bitcoin’s mining difficulty, Marathon remains committed to expanding its hash rate.

The recent spike in hash rate has been attributed to miners joining the network to take advantage of the 6.25 BTC block rewards before the April 20 halving. Additionally, transaction fees, particularly from Runes, have remained high, providing further incentives for miners to continue their operations.

Marathon’s revised hash rate target demonstrates the company’s commitment to growth and innovation in the rapidly evolving Bitcoin mining industry.