Bitcoin production decreases by 25% due to challenging mining environment

The Bitcoin mining output of #MARA Holdings has decreased by 25% in June, down to 713 Bitcoin. The company's report indicates that the cause is due to adverse weather at the facility in Texas and general challenges making mining more difficult across the industry.

Reasons for the decline and expansion plans

CEO Fred Thiel of MARA explains that the decrease is primarily due to "downtime caused by weather-related power cuts and the temporary deployment of older machines." He also mentioned "natural fluctuations in block-finding luck" contributing to it.

Nevertheless, MARA announced plans to increase its network capacity by 40%, reaching 75 exahash by the end of this year, in line with its goal of rapid expansion and optimizing energy costs.

MARA's Bitcoin accumulation trend

MARA's June results come amid the company planning to double its Bitcoin accumulation strategy. MARA has announced the issuance of $2 billion in stock to add more tokens to its balance sheet.

MARA is one of many publicly listed companies pursuing a strong Bitcoin accumulation strategy, similar to Strategy (formerly MicroStrategy). There are currently over 140 companies holding Bitcoin, indicating a growing trend of adopting Bitcoin as a strategic asset. #anhbacong