Marathon Digital Attributes 21% Drop in Mined Bitcoin to Adverse Weather

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Bitcoin mining firm Marathon Digital linked the recent drop in its total amount of Bitcoin (BTC) mined in June to weather conditions in Texas and a drop in transaction fees.

According to a July 5 statement, Marathon Digital experienced a 21% drop in June in the total amount of Bitcoin mined compared to the previous May.

The main reason given for the drop in production in June, which saw 979 bitcoins produced throughout the month, was the impact of weather conditions in Texas, where Marathon’s main operations are located.

It should be noted that June marks the transition from spring to summer in Texas. According to data from the National Weather Service in Dallas, Texas, there was a jump of nearly 8.4 degrees Fahrenheit in the average temperature between May and June. May averages 75.6 degrees Fahrenheit, while June averages 84 degrees Fahrenheit.

The drop in production from last month was due to weather-related restrictions in Texas and a significant decrease in transaction fees. Highlights and operational updates from Marathon Digital. Source: Marathon GlobeNewsWire

Cointelegraph previously reported on February 6 that crypto-mining firm Riot Platforms saw 17,040 rigs disconnect from its operations in Texas due to harsh winter conditions in the state.

It was further explained that Marathon Digitals’ transaction fees fell to around 5.1% of total Bitcoin earned in June from 11.8% earned in May.

It was noted that the emergence of Bitcoin Ordinals significantly increased transaction fees in May, adding that even though network congestion eased in June, the company still has a positive outlook for the future of the mining economy.

Related: Heating a House with a Bitcoin Miner: Staying Warm with Sats

This is not the first time that the weather at this time of year in Texas has had a major impact on crypto miners.

In July 2022, Peter Wall, CEO of crypto mining company Argo Blockchain, which operates a data center in West Texas, told Cointelegraph that the company restricts mining operations when ERCOT sends out a custody alert.

In more recent news, a July 5 report by cryptocurrency analytics platform Coin Metrics found that Bitcoin miners earned $184 million from transaction fees in the second quarter of 2023, which is more than what they earned throughout 2022.

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