MARA Pool Mines 773 Bitcoin in March amid Extended Downtime

Marathon Digital, the largest public bitcoin mining company by proprietary hashrate, appears to have continued experiencing downtime in March as its MARA (NASDAQ: MARA) Pool mined about 773 BTC.

Bitcoin’s network data shows that Marathon’s proprietary MARA Pool mined 118 blocks in March UTC, the last full month before bitcoin’s halving event around Apr. 20. Marathon earns bitcoin payouts from blocks mined by MARA Pool and via joint ventures set up with third parties.

Including the production from Marathon’s joint ventures estimated by TheEnergyMag, the firm is expected to have a bitcoin production of around 882 BTC in March.

Bitcoin’s daily production benchmark dropped to 1.6 BTC/EH/s in March due to the rising network hashrate and difficulty. Mining 882 BTC in the month would imply a realized hashrate of about 17.8 EH/s, which would account for 62% of the 28 EH/s energized hashrate as of Feb. 29.

Marathon’s host, Applied Digital, began experiencing power outages at its Garden City and Ellendale sites in Texas in mid-January, causing downtime for Marathon that has stretched to March.

Marathon stated earlier last month that although the Garden City site was fully operational, the issues at Ellendale were still being resolved, where it was hosting 7.8 EH/s of bitcoin miners.

In March, Marathon entered into a purchase agreement to acquire the Garden City facility from Applied Digital for $87.3 million.