Marathon Digital blames weather conditions for mining 21% less Bitcoin in June

Marathon Digital, a Bitcoin mining company, has revealed that the drop it faced in the total amount of BTC mined in June is connected to the elevated warm temperatures in Texas and a decrease in transaction costs. On July 5, the company asserted that its production capacity in June had gone down by 21%, when compared to May’s figures. 979 Bitcoins were produced in the same time. As per reports from the National Weather Service in Dallas, Texas, there was an expected 8.4-degree Fahrenheit-increment in temperature over the course of May and June – the average temperature in May being about 75.6-degree Fahrenheit, whereas it raised up to 84-degree Fahrenheit.
Previously, in early 2023, crypto mining firm Riot Platforms had to temporarily close down over 17,000 rigs in Texas, due to the snow and harsh winter climate.

Additionally, the Bitcoin’s Ordinals rising brought about more costly transactional prices in May and while this lessened in the coming months nonetheless, Marathon Digital still anticipates a prosperous future for mining economics. Furthermore, analysis from crypto statistics platform Coin Metrics’ July 5 White Paper presented that Bitcoin Miners generated $184 million in transactional fees in Q2 of 2023 – surpassing the complete sum earned in the same during the whole of 2022. The current scenario brings into light the consequences of varying weather phenomenons at heavily mined areas, like West Texas, an area which houses a data center of a crypto mining company.

The report touched the question of ‘orange pill’ of children in regard to Bitcoin reads and lessons – encouraging more parents to acquaint their kids and apprentices with Bitcoin technology at an early age and investing resources in pro crypto titles.

Robert Wilson author
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