China News Daily TheBitTimes.com

With a new quarterly production record, Marathon Digital is now on track to meet its mid-year target of 23 exahashes. Bitcoin (BTC) Mining firm Marathon Digital reported a quarter ly record of 2,195 BTC mined over the first quarter of 2023, currently worth around $62 million. Marathon explained in an April 3 update that the 2,195 mined BTC is a 74% increase from the first quarter of last year and a 41% increase from Q4 2022. It comes on the back of the miner increasing its operational Hash Rate by 195% from Q1 2022. Marathon also recorded a monthly record of 825 BTC mined in March — currently valued at around $23.3 million — and marked a 21% production increase from February. $MARA's March Production Update is here: - Increased #Bitcoin Production 21% MoM - Produced a Record 825 BTC in March ’23 - Produced a Record 2,195 BTC in Q1 ’23 - Increased Hash Rate 64% in Q1 ’23 (11.5 EH/s) - Reported Unrestricted Cash and Cash Equiv. of $124.9M - Increased… pic.twitter.com/Jc1ACI2kY2 —...

Don't be fooled by its emptiness: Block 776,339 plays as important a role as busier blocks in the Bitcoin blockchain. Bitcoin (BTC) is known for its robustness, security and predictability. Every 10 minutes–on average–the blockchain produces a new block and the successful miner earns a block reward of 6.25 BTC, circa $130,000.  However, every once in a while, the Bitcoin blockchain surprises observers and participants. At block height 776,339, nodes across the network verified a completely empty block . The block was added to the Bitcoin block chain with zero included transactions–leading to some confusion among the crypto community. So, what exactly is an empty block , and how does it happen? Block expectation vs reality according to source: mempool.space First, while an empty block might seem strange at first, it's actually a normal occurrence on the network. The last time it occurred was little over two weeks ago, in block 774486. Miners are incentivized to mine bloc...

Bitcoin miners have been under duress for more than a year and even with BTC price trading at $24,000, BTC mining stocks could still face challenges throughout 2023. Bitcoin mining stocks usually follow BTC’s price because it directly influences the company's earnings. These stocks were beaten down heavily in the last quarter of 2022, especially in the month of December. The downturn after FTX's collapse worsened with the bankruptcy filings of the largest U.S.-based Bitcoin mining company, Core Scientific. During this time, other mining stocks, like Marathon Digital Holdings (MARA) in the chart below, exhibited a weak correlation with Bitcoin’s price, suggesting that December’s downturn was probably overblown. MARA/USD price chart with MARA-BTC Correlation Coefficient index. Source: TradingView The negative trend reversed at the start of 2023 as most mining stocks posted impressive gains. The Hashrate Index mining stock index, which tracks the average price of publicly listed ...