Bitcoin Price Prediction: Marathon Digital’s Record Mining Boosts BTC Amid ETF Hopes
In the dynamic world of cryptocurrencies, Bitcoin stands at a pivotal juncture, trading at $43,631 with a notable increase of 0.96% on Friday. This upswing is partly attributed to Marathon Digital’s record-breaking achievement in December, mining an impressive 1,853 Bitcoins.
Amidst regulatory changes, like India’s tightening grip on exchange sites, there’s growing optimism in the crypto market, especially with talks of a potential approval for a Bitcoin spot ETF.
Adding to the buzz, influential author Robert Kiyosaki of “Rich Dad Poor Dad” fame advises investors to stay informed about Bitcoin’s upcoming halving, a key event that could significantly impact its value.
Marathon Digital Holdings, a notable Bitcoin miner, had a record-breaking month in December, mining an incredible 1,853 Bitcoin, a 56% rise over November and a remarkable 290% increase over the same period last year.
Marathon Digital Holdings’ December 2023 #Bitcoin Production Update is here:
– Record BTC Production of 1,853 BTC in December and 12,852 in 2023
– Increased Average Operational Hash Rate 18% M/M to 22.4 EH/s
– BTC Holdings Now Over 15,000, Total Cash & BTC of $1.0B as of…
— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) January 4, 2024
Marathon ascribed the feat to an 18.4% monthly increase in hash rate, which reached 22.4 exahashes per second. Fried Thiel, the company’s CEO, indicated plans for significant growth, aiming for a 30% rise in energized hash rate in 2024 and 50 exahashes within the following 18 to 24 months.
Marathon’s exceptional success is consistent with a broader trend among Bitcoin mining operations, which includes greater operational expansions, which could have an impact on Bitcoin’s supply and demand dynamics.
The crypto market
Read more on cryptonews.com
