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Seeking Alpha 2022-06-28 20:40:17

Marathon Digital miners hit by storm in Montana may come back online next week

Marathon Digital (NASDAQ:MARA) bitcoin (BTC-USD) miners in Hardin, Montana that lost power after a storm passed through the region earlier in June are expected to come back online in a reduced capacity as early as the first week of July, according to an update on its mining operations released Tuesday. Based on recent damage assessments, Marathon Digital's (MARA) plant’s cooling towers need to be repaired. But its miners were not materially damaged by the storm, positive electrical tests indicated. Furthermore, the company's bitcoin (BTC-USD) production is expected to be reduced substantially, as 75% of its active mining fleet represented the 30K miners it had deployed in Montana prior to the storm which struck on June 11. In an effort to rebuild its hash rate and improve bitcoin (BTC-USD) production, "we have redirected our active miners, which represent approximately 0.6 exahash, to point towards a third-party mining pool, so that we can

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