Bitcoin mining company Marathon Digital has linked the recent drop in the total amount of Bitcoin’s (BTC) mined in June to the weather conditions in Texas and a decrease in transaction fees. .
According to a statement on July 5, Marathon Digital experienced a “21%” decrease in June for the total amount of Bitcoin mined compared to the previous month of May.
The main reason cited for the decrease in production in June – which saw 979 Bitcoin produced throughout the month – was the impact of weather conditions in Texas, where Marathon’s main operations are located.
It’s worth noting 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 about 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 decrease in production relative to last month was due to weather constraints related to Texas and a significant decrease in transaction fees.”
Cointelegraph previously reported on February 6 that crypto mining firm Riot Platforms saw 17,040 rigs offline in its operations in Texas due to the state’s “severe winter weather.”
It further explained that Marathon Digital’s transaction fees fell to approximately “5.1%” of the total Bitcoin earned in June, compared to “11.8%” earned in May.
It was noted that the “growth” of Bitcoin Ordinals significantly increased transaction fees in May, adding that while network congestion eased in June, the company has a positive outlook for the “future of the mining economy.”
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This is not the first time that the weather 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 suspended mining operations when ERCOT sent out a conservation alert. .
In the latest news, a report released on July 5 by cryptocurrency analysis platform Coin Metrics revealed that Bitcoin miners made $184 million from transaction fees in the second quarter of 2023, which is more than they did in the entire year of 2022.
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