Marathon Digital Sets New Record With 1,853 Mined BTC in December

In a remarkable achievement, Marathon Digital, a prominent cryptocurrency mining company, has set a new record by mining an impressive 1,853 Bitcoins (BTC) in December. As per a press release, the accomplishment is the highest monthly total ever recorded by a BTC mining company. 

Marathon Digital Unending Determination Brought Success

Marathon Digital has consistently been at the forefront of the Bitcoin mining industry, utilizing cutting-edge technology and innovative strategies to maximize its mining capabilities. Interestingly, the record-breaking figure surpasses the company’s previous achievements, up 56% from November and 290% from December 2022. 

Furthermore,  the achievement showcases the company’s dedication to pushing the boundaries of what is possible in cryptocurrency mining. Meanwhile, the new record set is noteworthy given the increasing competition and challenges faced by mining operations globally. Bitcoin mining is a resource-intensive process, requiring significant computational power and energy consumption.

Marathon Digital’s ability to navigate these challenges and thrive in such an environment demonstrates its resilience and expertise in the field. The Florida-based company’s success in December can be attributed to an 18% monthly increase in the firm’s hash rate to 22.4 exahashes.

Marathon Digital Implemented Preventive Measures

Recall that, in the face of the challenges and the macroeconomic unpredictability in 2023, Fried Thiel, chairman and CEO of Marathon Digital, stated that the management had to take proactive measures to strengthen the firm’s balance sheet. Based on this background, Marathon completely paid off its term loans.

Furthermore, the management took the drastic decision of severing ties with the now-shuttered Silvergate Bank. As such, this led to the release of 3,312 bitcoins that had been used as collateral previously. Marathon also received $100 million from the bank, intending to use it to buy Bitcoin mining hardware and finance its mining activities.

Tether Set to Release New Software to Improve Bitcoin Mining

In August 2022, Paolo Ardoino, the Chief Technology Officer (CTO) of Bitfinex and Tether, announced that Tether’s developers are currently working on finalizing the new JavaScript libraries intended to facilitate the transmission of commands and signals to Bitcoin mining hardware.

Some of the hardware that has been confirmed to be compatible with the software are WhatsMiner, AvalonMiner, and Antminer. Tether believes that proper management of the BTC mining capacity will lead to the efficient completion of more operations. According to Ardoino, the design of the new software is “high-quality, polished, and modular.”