MARA reported a 25% month-over-month decline in bitcoin blocks found in June, mining 211 blocks compared to 282 in May. The largest miner by hashrate generated 713 BTC compared to 950 BTC the previous month, with management pinning the drop on curtailment, weather at its Garden City facility and poor mining pool luck.
Hashrate dipped slightly from 58.3 EH/s at the end of May to 57.4 EH/s at June’s close.
Despite the June slowdown, the company reaffirmed its target to reach 75 EH/s year-end, underpinned by machine orders already in place and ongoing efforts to secure additional low-cost power sites. MARA has 1.7 GW of captive power capacity and 1.1 GW currently online.
MARA added 713 BTC to its treasury in June, bringing total holdings to 49,940 BTC. The company elected not to sell any coins during the month.
MARA is up 0.80% since yesterday’s close, at the time of publication.
