Marathon Digital Holdings (MARA), one of the largest Bitcoin miners, has significantly increased its hash rate target for the year 2024. The company now aims to reach 50 exahash by December, which is a 100% growth from the initial target of 35-37 exahash.
Marathon plans to achieve this goal by leveraging its recent acquisitions and gaining access to new mining hardware. The company believes it has enough cash flow to finance the expansion without seeking additional capital.
Marathon’s chairman, Fred Thiel, provided more details in a statement:
“Given the amount of capacity we have available following our recent acquisitions and the amount of hash rate we have access to through current machine orders and options, we now believe it is possible for us to double the scale of Marathon’s mining operations in 2024 and achieve 50 exahash by the end of the year.”
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