Key Takeaways
- MARA increased its hash rate by 11% to 35.2 EH/s.
- Bitcoin production dropped 3%, with 673 BTC mined in August.
- MARA now holds 25,945 BTC, having sold none in August.
MARA Holdings, one of the largest publicly traded Bitcoin miners, has released its August 2024 production updates.
The company’s energized hash rate grew 11% month-over-month (M/M) to 35.2 exahashes per second (EH/s). Despite this increase, MARA reported a slight 2% decrease in blocks won, mining 196 blocks in August compared to 201 in July. Bitcoin production also fell 3% to 673 BTC.
CEO Fred Thiel emphasized MARA’s continued expansion efforts, noting that the company mined its 4,000th block in August.
Thiel said:
We are proud of our progress and remain on track to achieve our 50 EH/s target by the end of 2024.
Upgrades
The company has been focusing on upgrading its Texas data centers, with nearly 18 immersion containers installed in Granbury.
MARA plans to convert an additional 30 containers by September, expecting to complete these improvements before year-end.
BTC holdings
MARA currently holds 25,945 BTC, having opted not to sell any of its Bitcoin in August.
