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Core Scientific Leads in Bitcoin Production as Marathon Struggles with Downtime Issues

Mar 28, 2024

The competition among Bitcoin miners has intensified ahead of Bitcoin's upcoming halving event in April 2024, with Core Scientific taking the lead in Bitcoin production for March. This shift in leadership is a result of Marathon Digital Holdings facing operational challenges, particularly with power issues at one of its hosted sites in February. The analysis, based on various metrics like the installed hashrate and average hashrate realization rate, projects Core Scientific's dominance in the sector. Despite a slight decrease in Bitcoin's mining difficulty, the hashrate has remained relatively steady, contributing to a stabilized production rate industry-wide. The challenges faced by Marathon underscore the importance of infrastructure reliability in the mining industry. As the halving approaches and reduces the block reward to 3.125 BTC, the industry is expected to experience further consolidation and strategic shifts among key players, emphasizing the evolving nature of cryptocurrency mining.

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