Marathon Digital stock down 5% amid concerning Bitcoin production announcement

The Bitcoin extraction company, a digital marathon, reported a drop in Bitcoin production for February, down from the month to the other due to the higher difficulty of the network and fewer operational days.

Digital marathonBitcoin (BTC) Production dropped by 6% per month in February due to the higher difficulty of the network and fewer operational days, said the company.

In a production of bitcoin report Released on March 4, the company based in Florida revealed a 4% increase in crypto production per day compared to January, although Bitcoin production decreased by 6% per month. Despite the decline, the marathon under tension has remained stable, the company stressed.

“The blocks won and the production of Bitcoin decreased by 6% per month, mainly due to a higher level of network difficulty and three days of less operating. Our energetic hashrate was slightly higher than the previous month, and we are about to complete the construction of a 40 megawatts data center in Ohio where we plan to install more than ten minors of immersion S21. »»

Fred Thiel, Chairman and CEO of Digital Marathon

Long -term opportunities in AI

According to Thiel, the mining company aims to strengthen its position in the space of artificial intelligence, which, as the CEO of the marathon says, “will create additional long -term income opportunities.”

“We expect our costs to decrease as we achieve the savings in possession of our sites and the generation of our own power, and we will be focused on laser efficiency while we are heading towards our low -cost energy objective.” Fred Thiel

The increase in the difficulty of the network has posed a challenge for minors since the reduction of half of Bitcoin in April 2024, which rewarded the awards with the previous levels of levels previously higher, which makes it more difficult to maintain production rates. With more competition on the network, fewer blocks are won, which affects production numbers.

Marathon actions on trading before the market plunged 5% after updating production, according to Yahoo Finance data. It is not known when exactly the new minors on the Ohio site will be completely deployed.