75% of Marathon’s mining fleet still offline two weeks after huge storm

Marathon Digital Holdings, a Bitcoin mining company, has disclosed that 75% of its mining capabilities have been out of service since a severe thunderstorm hit Montana on June 11.

Marathon posted a statement on June 28 that explained that the storm had struck Hardin, Montana, on June 11. It damaged the power generating plant that supplies Marathon’s local mining operations. The company claims that initial electrical tests showed that most of its miners were not significantly damaged by the storm.

According to the company, 30,000 devices (75% of its fleet) have been offline since the storm. According to Bitcoin blockchain explorers, the miners were down for about two and a quarter weeks.

“With these miners offline Marathon’s Bitcoin production will be reduced until repairs to Montana’s power generating plant can be completed or until miners can relocate to new facilities.”

Marathon stated that the facility would remain without power until BeoWulf Energy’s damaged power plant can be repaired.

$MARA Update on mining ops in Montana – Severe storm passed through Hardin on 6/11 – Power plant cooling towers need repairs – Majority of miners not damaged – Miners outside Hardin (0.6 EH/s) remain hashing via 3rd party pool https://t.co/ZcaD30S1bh
— Marathon Digital Holdings (@MarathonDH) June 28, 2022

Fred Thiel, Marathon’s CEO, stated that the facility could resume mining at a reduced rate as soon as the first week in July if repairs are completed on time.

It directed its remaining havehpower to be used to build external mining pools, while repairs were made to the damaged facility.

“Marathon has shifted its remaining active miners (approximately 0.6 EH/s) away from MaraPool’s mining pool and toward a third-party pool to increase the likelihood of earning Bitcoin.”

Exahash per Second (EH/s), refers to how much hashpower a miner contributes to secure Bitcoin network.

Marathon contributed approximately 3.9 EH/s to 36,830 active miners during May and held 9,941 BTC valued at about $201.4 million according CoinGecko.

According to Coinwarz, mining difficulty has fallen to its lowest point since April.

Related: Bitcoin mining revenue mirrors 2021 lowests right before BTC breaches $69K

According to the company, 19,000 miners representing 1.9EH/s were installed at Texas-based facilities. They are waiting for the energy required to turn them on.

The company stated that it was “evaluating the possibility of expediting its move of its miners to new hosting locations from Montana” in light of the disruptions caused by the storm in Hardin. This could include faster deployment to Texas facilities to avoid another Hardin.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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