Marathon Digital experienced a 54% increase in hash rate during the second quarter, setting a new record for producing 2,926 BTC.

According to BlockBeats news on August 9th, Bitcoin mining company Marathon Digital reported a 54% increase in hash rate from 11.5 EH/s to 17.7 EH/s in the second quarter. With installations in Garden City, Texas, Marathon has already achieved its predicted level of 23 EH/s. Despite setting a new production record of 2926 BTC in Q2, the company still recorded a net loss of $21.3 million from April to June. Marathon's total revenue increased from $51 million in Q1 to $82 million in Q2. CEO Fred Thiel stated that the company is focused on achieving profitability before the next halving event expected in April 2024 and may seek acquisition opportunities among financially struggling competitors.