As a researcher with a background in cryptocurrency and experience following the Bitcoin mining industry, I find Marathon Digital Holdings’ (MARA) recent announcement of increasing its hash rate target for the year 2024 to be quite intriguing. The company’s initial objective was to reach between 35-37 exahash by the end of the year, but now it aims to double that and achieve 50 exahash.
As an observer, I’d put it this way: Marathon Digital Holdings (MARA), one of the biggest Bitcoin mining companies, has significantly increased its hash rate goal for the year 2024. Their new aim is to achieve a hash rate of 50 exahashes per second by December, which represents a 100% growth from their initial target of 35-37 exahashes.
The business aims to achieve its objective by utilizing its latest purchases and the resulting capability to obtain new mining equipment. The undertaking is confident in generating sufficient funds for expansion without requiring additional financial resources.
Marathon’s chairman Fred Thiel elaborates more in a statement.
Based on our latest acquisitions and ongoing machine orders and options, I can confidently assert that we have sufficient capacity to expand Marathon’s mining operations twice their current size in the year 2024. Furthermore, with this increased capacity, we aim to reach a hash rate of 50 exahashes per second by the end of the year.
As a financial analyst, I’ve noticed that the company’s quarterly earnings report for the first quarter of 2024 is scheduled to be released on May 9th. During this call, the Marathon management team is expected to provide additional insights into their strategic plans for the year 2024.
Read More
Sorry. No data so far.
2024-04-26 01:56