Bitcoin mining company Marathon Digital Holdings has says 75% of their mining capacity continues to be from commission since a serious storm hit Montana on June 11.
Marathon finally issued a statement on its website on June 28 explaining the storm struck over the capital of scotland- Hardin, Montana on June 11, damaging the ability generating facility that supplies Marathon’s local mining operations. Based on the organization, “initial electrical tests have discovered that almost all their miners weren’t materially broken through the storm.”
The organization noted that 30,000 devices, or 75% from the company’s fleet, happen to be from action because the storm. Bitcoin blockchain explorers indicate the miners happen to be lower for 2 . 5 days.
“With these miners offline, Marathon’s Bitcoin production is anticipated to become considerably reduced until repairs towards the power generating facility in Montana could be completed or before the miners could be relocated to new facilities.”
Marathon noted the facility will stay without power before the broken power facility from BeoWulf Energy could be repaired.
$MARA Update on mining ops in Montana
– Severe storm undergone Hardin on 6/11
– Power plant cooling towers need repairs
– Most of miners not broken
– Miners outdoors Hardin (.6 EH/s) remain hashing via third party pool https://t.co/ZcaD30S1bh— Marathon Digital Holdings (@MarathonDH) June 28, 2022
Marathon’s Chief executive officer Fred Thiel mentioned the facility could begin mining again in a reduced capacity as soon as the very first week of This summer if certain repairs come in time.
It’s directed its remaining hashpower to lead to exterior mining pools while repairs are now being made around the broken facility.
“Marathon has pointed its remaining active miners, representing roughly .6 EH/s, from the Company’s mining pool, MaraPool, and perfectly into a third-party mining pool to be able to increase the prospect of earning Bitcoin.”
Exahash per second (EH/s) refers back to the quantity of hashpower a miner plays a role in secure the Bitcoin network.
Marathon contributed about 3.9 EH/s from 36,830 active miners through May and held 9,941 BTC worth about $201.4 million based on CoinGecko.
Mining difficulty reaches its cheapest level since April based on Bitcoin network tracker Coinwarz.
Related: Bitcoin mining revenue mirrors 2021 lows, before BTC breached $69K
The organization mentioned that 19,000 miners representing 1.9 EH/s have been set up in Texas-based facilities and were waiting for the power required to switch them on.
Considering the running outages brought on by the storm in Hardin, the organization stated that it’s “currently evaluating the potential of expediting the move of their miners from Montana to new hosting locations,” that could include faster deployment to the new Texas facilities to avoid this problem in Hardin from happening again.
