75% of Marathon mining fleet still down two weeks after major storm

75% of Marathon mining fleet still down two weeks after major storm

The bitcoin (BTC) mining company Marathon Digital Holdings has revealed that 75% of its mining capacity is out of service since a severe storm hit Montana on June 11.

Marathon finally put out a statement on its website Tuesday explaining that the storm hit the town of Hardin, Montana, on June 11, damaging the power generation facility that supplies local Marathon mining operations. According to the company, “initial electrical tests have determined that most of the company’s miners suffered no material damage from the storm.”.

The company noted that 30,000 devices, or 75% of the company’s fleet, have been out of action since the storm.. Bitcoin blockchain explorers indicate that miners have been out of commission for two and a half weeks:

“With these miners out of commission, Marathon’s bitcoin production is expected to be significantly reduced until repairs to the power generation facility in Montana can be completed or miners can relocate to new facilities.”

Marathon noted that the premises will remain without power until the damaged BeoWulf Energy power installation can be repaired.

Marathon CEO Fred Thiel stated that the facility could begin mining again at a reduced capacity the first week of July if certain repairs are made in time.

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You have directed your remaining hashing power to contribute to external mining pools while repairs are made to the damaged facility:

“Marathon has directed its remaining active miners, representing approximately 0.6 EH/s, away from the company’s MaraPool mining pool and towards a third-party mining pool in order to increase the probability of earning bitcoin.”

Exahash per second (EH/s) refers to the amount of hashpower a miner contributes to securing the Bitcoin network.

Marathon contributed some 3.9 EH/s from 36,830 active miners through May and held 9,941 BTC worth some $201.4 million.according to CoinGecko.

Mining difficulty is at its lowest level since Aprilaccording to Bitcoin network tracker CoinWarz.

The company stated that 19,000 miners representing 1.9 EH/s had been installed at the Texas-based facility and were waiting for the power needed to power them up.

In light of the functional outages caused by the storm at Hardin, The company said it is “currently evaluating the possibility of accelerating the move of its Montana miners to new housing locations,” which could include faster deployment to its new Texas facility to prevent this issue at Hardin from happening again..

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