bullish

Bitcoin

TIME

In response to recent noise complaints from residents in Granbury, Texas, Marathon has initiated a transition to immersion cooling for its Bitcoin mining operations. The company has reduced its energized hashrate from 4.3 EH/s in June to 2.7 EH/s in July at the Granbury site. This implies that about 15,000 Bitcoin ASIC miners have been temporarily shut down as Marathon moves to a quieter and more efficient cooling system.
Marathon's shift to immersion cooling involves submerging mining hardware in a specialized liquid coolant, significantly reducing noise and improving both cooling efficiency and hardware longevity. The company has announced that the first batch of 18 immersion containers will be operational in August, with the entire transition expected to be completed by the end of the year. This move aims to mitigate the concerns raised by the community and enhance the performance of their mining operations.
TIME magazine recently spotlighted the noise complaints against Marathon's Granbury operation, highlighting the disturbance caused by air-cooling fans. However, Marathon's site manager at Granbury was found not liable for the alleged noise violation. This has allowed the company to proceed with its plans to implement immersion cooling without facing legal repercussions.
Despite the temporary reduction in hashrate at Granbury, Marathon has achieved a total realized hashrate of 28.17 EH/s after mining 692 BTC last month. The company’s efforts to optimize its operations and reduce community impact have not impeded its overall productivity. This showcases Marathon's resilience and commitment to maintaining its position as a leading Bitcoin miner, according to <a href="https://theminermag.com/news/2024-08-06/marathon-immersion-bitcoin-granbury/" rel="noopener noreferrer nofollow">TheMinerMag</a>.
In addition to the operational adjustments, Marathon has significantly increased its Bitcoin reserves. As of July 31, Marathon holds 20,818 BTC, following the purchase of 1,588 BTC for $100 million in July. This acquisition aligns with Marathon’s strategy to enhance its Bitcoin treasury holdings, demonstrating confidence in the long-term value of Bitcoin.
The company's Bitcoin hodl strategy underscores its commitment to building a substantial digital asset reserve, which could prove advantageous in the volatile cryptocurrency market. Marathon's decision to invest heavily in Bitcoin indicates a bullish outlook on its future price potential, despite recent fluctuations.

Marathon: Immersion Cooling and Increased Reserves

Ultramining_Eng

Other articles published on Aug 7, 2024

Bitcoin ETFs Suffer $168 Million Hemorrhage Amid Market Mayhem

Binance Labs Unveils First Batch of Projects in Season 7 Incubation Program

Grayscale Expands Investment Products with Bittensor and Sui Trusts

Andrew Tate Leads New Token Initiative

Stablecoins marked all-time volume records on turbulent trading day

ZKX Protocol Closes, Triggering Over 50% Drop in ZKX Token Value

Join our free newsletter for daily crypto updates!