Marathon Digital attributes the 21% drop in bitcoin mined to adverse weather conditions

Bitcoin mining company Marathon Digital has linked the recent plunge in the total amount of its Bitcoin (BTC) mined in June to Texas weather conditions and a drop in transaction fees.

According to a July 5 statement, Marathon Digital saw a “21%” drop in total bitcoin mined in June compared to May.

The main reason for the June production drop – which saw 979 bitcoins produced during the month – was cited as the impact of weather conditions in Texas, where Marathon’s main operations are located.

It is worth noting that June in Texas marks the transition from spring to summer. According to the National Weather Service in Dallas, Texas, the average temperature rose nearly 8.4 degrees Fahrenheit between May and June. It averaged 75.6 degrees Fahrenheit in May, while June averaged 84 degrees Fahrenheit.

“The decrease in production compared to last month was due to weather-related restrictions in Texas and a significant decrease in transaction fees.” Highlights and updates from Marathon Digital’s operations. Source: Marathon GlobeNewsWire

Cointelegraph reported back on Feb. 6 that crypto mining company Riot Platforms had to shut down 17,040 rigs at its Texas operations due to “severe winter weather” in the state.

It further explained that Marathon Digital’s transaction fees dropped to about “5.1%” of total bitcoins earned in June, compared to “11.8%” in May.

Noting that the “emergence” of Bitcoin Ordinals significantly increased transaction fees in May, it added that while network congestion eased in June, the company still has a positive outlook on the “future of the mining economy.” .

Related: Heat a house with a bitcoin miner: Stay warm with sats

This isn’t the first time the weather in Texas this time of year 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 was curbing mining operations when ERCOT issued a conservation alert.

In more recent news, a report published by cryptocurrency analytics platform Coin Metrics on July 5 revealed that bitcoin miners earned $184 million from transaction fees in the second quarter of 2023, which is more than all of 2022.

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