Since a violent storm struck Montana on June 11, 75 per cent of Marathon’s mining capacity has been inoperable.
Although it would take some time to restore the facility to full functionality, Marathon’s mining CEO Fred Thiel suggested that the company may decide to accelerate its relocation from Hardin.
Marathon Digital Holdings, a bitcoin (BTC) mining company, has disclosed that since a violent storm struck Montana on June 11, 75% of its mining capacity has been inoperable.
The storm that hit Hardin, Montana on June 11 caused damage to the power plant that powers Marathon’s nearby mining facilities, Marathon finally explained in a statement posted to its website on Tuesday. The firm claims that “initial electrical tests have found that the majority of the Company’s miners were not materially damaged by the storm.”
The business reported that 30,000 devices, or 75% of its fleet, have been inoperable since the storm. Blockchain explorers for bitcoin show that the miners have been offline for 2.5 weeks:
“With these miners offline, Marathon’s Bitcoin production is expected to be significantly reduced until repairs to the power generating facility in Montana can be completed or until the miners can be relocated to new facilities.”
Marathon noted that the facility would be without electricity until BeoWulf Energy’s damaged power plant could be rebuilt.
If necessary repairs are performed in time, according to Marathon’s CEO Fred Thiel, the facility might start mining again as early as the first week of July, albeit at a reduced capacity.
While the damaged facility is being repaired, it has directed its remaining hashing power to donate to external mining pools:
“Marathon has pointed its remaining active miners, representing approximately 0.6 EH/s, away from the Company’s mining pool, MaraPool, and towards a third-party mining pool in order to increase the probability of earning Bitcoin.”
Exahash per second (EH/s) is the measure of a miner’s contribution to the hashpower needed to protect the Bitcoin network.
According to CoinGecko, through May, Marathon received 3.9 EH/s from 36,830 active miners and held 9,941 BTC worth around $201.4 million.
According to Bitcoin network tracker CoinWarz, mining difficulty is at its lowest point since April.
According to the corporation, 19,000 miners totaling 1.9 EH/s had been placed in facilities in Texas and were awaiting the energy required to turn them on.
The company stated that it is “currently evaluating the possibility of expediting the move of its miners from Montana to new hosting locations” in light of the functional outages brought on by the storm in Hardin. This could include a quicker deployment to its new Texas facilities to ensure that this problem in Hardin doesn’t occur again.
