MARA Holdings reported a 25% drop in Bitcoin production for June, producing 713 BTC, down from 950 in May, due to adverse weather at its Texas facility and industry-wide mining difficulties. The company also won 211 blocks last month, a decrease from May's 282. As of June 30, MARA held 49,940 BTC valued over $5 billion. CEO Fred Thiel attributed the decline to weather-related interruptions and the use of older machines during repairs. Additionally, natural fluctuations in mining luck impacted results. Despite these challenges, MARA plans to boost its network capacity by 40% to 75 exahashes by year-end, aligning with its growth strategy and commitment to cost-effective power. The mining difficulty increased by approximately 2.6% during the same period. MARA's stock closed at $15.70, while Bitcoin traded at $105,862, reflecting a slight decline. The company aims to enhance its Bitcoin holdings, having announced a $2 billion stock offering to acquire more tokens, following a trend among publicly traded firms. Read more AI-generated news on: https://app.chaingpt.org/news

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