Mara Holdings’ Blocks won and Bitcoin production-two big statistics of mining productivity counts in February from month to month with 6%, the Bitcoin Miner said in a press release Tuesday.
Mara attributed the falls to the increased network difficulty and the three less operational days of February than the previous month.
The shares of Mara ended at $ 13.94, an increase of 1.3% despite the fact that it remained in a negative area for a large part of the day. Mara has fallen almost 21% in the past month, according to Yahoo Finance, amid a decrease of 10% in Bitcoin’s and wider cryptom markets.
Last week, the company established in Florida noted in the fourth quarter that it had produced About 27%, or 998, fewer blocks In the last financial quarter compared to the same period a year earlier, even if it defeated the expectations of analysts for income and profit per share. Those results occurred when Bitcoin was still increasing.
More competition, fewer rewards
Yet a brewing trade war and other macro -economic uncertainties have led restless cryptom markets through the mining sector.
Last April, a pre-programmed update of the Bitcoin network code reduced the number of tokens awarded to miners of each block by half, which made mining less profitable. In the meantime, rising energy costs have offered an extra challenge, The energy and hosting costs of Mara also rose sharply by 70%, a total of $ 127.4 million in Q4 2024, compared to $ 75.1 million in Q4 2023.
In his statement, Mara said that it was completing the completion of a 40 Megawatt data center in Ohio, where it will install more than 10 thousand S21 Pro Immersion Miners and that it would want to expand his “Footprint in energy generation.”
Cryptocurrency Miner Bit Digital’s Bitcoin production fell to around 165 tokens in the last quarter of 2024-one a decrease of 59% compared to the quarter of the year. In the meantime, Bitdeer Technologies Group achieved $ 69 million in turnover in the fourth quarter compared to $ 115 million a year ago.
Bit Digital and Bitdeer rose by 4.3% and 0.5% on Tuesday. The shares of the companies have fallen 26% and 32% in the past month.
Bitcoin was recently traded above $ 87,300, an increase of more than 1% in the last 24 hours, according to Crypto Markets Data Provider Coingecko.
Published by James Rubin
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