MARA Pool Mines Record Bitcoin Since January
Bitcoin mining giant MARA has intensified competition in the network with its MARA Pool mining 820 BTC in November, setting a new record since January.
Network data reveals that MARA Pool produced 254 Bitcoin blocks in November (UTC), earning 793.7 BTC from block subsidies and 26.7 BTC from transaction fees. MARA Pool’s reported Bitcoin production excludes contributions from MARA’s joint ventures, which contributed an estimated hashrate of 4.33 EH/s.
Including Bitcoin production from these ventures, MARA’s total November output reached 907 BTC, the highest since January. With Bitcoin’s average hashrate recorded at 731 EH/s in November, MARA’s Bitcoin production suggests a realized hashrate of 45.37 EH/s last month. This indicates the installation of additional mining rigs throughout November as the company reported an end-of-month operating capacity of 40.2 EH/s in October.
MARA’s increased Bitcoin production reflects escalating competition among leading Bitcoin mining firms vying to expand hashrate capacity and bolster investor confidence. Consequently, Bitcoin’s average network hashrate rose 3.8% in November, climbing to 731 EH/s from 704 EH/s in October. The 27 EH/s increase is equivalent to approximately 100,000 Antminer S21 Pro units being added to the network.
In addition to production gains, MARA stockpiled Bitcoin reserves in November. The company announced the purchase of 5,771 BTC on November 23 and 703 BTC on November 27, utilizing over $600 million of the $1 billion raised through convertible notes.
