Marathon Digital and Riot Platforms Achieve Record Bitcoin Production in 2024

Marathon Digital and Riot Platforms have reported a significant recovery in Bitcoin mining, achieving their highest monthly outputs since the April halving.

Marathon mined 717 Bitcoin in October, valued at approximately $48.8 million, thanks to a 14% increase in hashrate to over 40 exahashes per second and higher transaction fees contributing about 5% to production.

Despite a 3% decline in block wins due to increased network difficulty, Marathon’s results indicate a solid rebound.

Riot Platforms also saw a boost, mining 505 Bitcoin worth around $34.4 million, marking a 22.6% month-on-month increase attributed to a rise in hashrate to 29.4 EH/s following the installation of new miners.

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However, both companies faced stock declines on November 4, with Marathon shares dropping 3.79% and Riot shares falling 4.87%.

Looking ahead, Riot aims for a hashrate of 34.9 EH/s by the end of 2024, while Marathon targets 50 EH/s by 2025.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.