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

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Bitcoin mining firm Marathon Digital has linked the recent downturn in the total amount of Bitcoin (BTC) mined in June to weather conditions and lower transaction fees in Texas.

According to reports on July 5, statementAt Marathon Digital, the total amount of Bitcoin mined in June decreased by 21% compared to the previous month, May.

The main reason cited for the decline in production in June (979 bitcoins were produced for the entire month) was the impact of weather conditions in Texas, where Marathon’s main operations are based.

“The decrease in production compared to last month was due to weather-related production restrictions in Texas and a significant drop in transaction fees.”

It’s worth noting that June is the transition period from spring to summer in Texas.

according to data According to the National Weather Service in Dallas, Texas, average temperatures rose nearly 8.4 degrees Fahrenheit from May to June. The average temperature in May was 75.6 degrees Fahrenheit, while the average temperature in June was 84 degrees Fahrenheit.

Cointelegraph reported on February 6 that crypto mining firm Riot Platforms has shut down 17,040 rigs in its Texas operations due to “severe winter weather” in the state.

Furthermore, Marathon Digital’s transaction fees fell to about ‘5.1%’ of total bitcoin earned in June, compared to ‘11.8%’ of total bitcoin earned in May.

The “emergence” of Bitcoin Ordinal was noted as a significant hike in transaction fees in May, and although network congestion eased in June, the company remains positive about the “future of the mining economy.” He added that he has an outlook.

Related: Heat Your Home With Bitcoin Miners: Stay Warm With Satellite TV

This is not the first time that the weather in Texas has had a big impact on cryptocurrency miners at this time of year.

In July 2022, Peter Wall, CEO of Argo Blockchain, a cryptocurrency mining company that operates data centers in West Texas, told Cointelegraph that ERCOT had issued a protective warning, citing many other miners in the region. Along with the operators, Argo said it was forced to temporarily suspend mining. activity.

In recent news, a report released on July 5 by crypto analytics platform Coin Metrics revealed that bitcoin miners earned $184 million from transaction fees in the second quarter of 2023. However, this is more than the amount earned in the full year of 2022.

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