Marathon Shoots for Record Production of 1,500 BTC in December

North American bitcoin mining giant Marathon is gearing up to achieve a record production month in December with 1,500 BTC, based on its average daily block production rate.

According to bitcoin’s network data, Marathon’s proprietary pool MaraPool has mined 68 bitcoin blocks, accumulating a total reward of 499 BTC within the first ten days this month. That suggests an average daily rate of 49.9 BTC.

Notably, 14.27% of the 499 BTC block rewards so far came from transaction fees, bolstered by surging on-chain activities.

At an average bitcoin price of $42,300, MaraPool has already made $21 million in mining revenue, which is separate from Marathon’s bitcoin production through joint ventures in the Middle East.

MaraPool’s production reflects a realized hashrate of 21.9 EH/s, accounting for 92.4% of Marathon’s energized hashrate of 23.7 EH/s. The company said in a November production update that it fully switched on the idle miners that were previously installed but waiting for energization.

Meanwhile, bitcoin’s network hashrate has remained flat at around 490 EH/s in December, which also contributed to Marathon’s increased bitcoin production capacity.

If Marathon maintains a consistent uptime throughout the remaining days of December, and assuming bitcoin’s network hashrate does not increase significantly, the company may surpass the 1,500 BTC mark.

That could overtake Core Scientific’s 1,527 BTC in January 2022 as the largest monthly production reported by any public mining company to date.