Marathon Expands Bitcoin Mining Capacity Abroad Amidst Network Competition
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Marathon is the largest Bitcoin mining firm and has expanded its hash rate 467% in the past year, now at 19.2 EH/s.
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Marathon has pivoted to international joint ventures for future growth after delays and high costs at US facilities.
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Marathon expects to expand capacity by 30% in 2024 by adding facilities in Abu Dhabi and Paraguay.
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Bitcoin network hash rate is at all-time highs, putting pressure on miners competing for blocks.
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Mining profitability remains low despite price increases due to high difficulty levels and network competition.