Marathon Digital Holdings, a Bitcoin mining company, has had 75% of its mining capability knocked out by a severe storm two weeks ago. It said the storm damaged the power generating facility that supplies Marathon’s local mining operations. The company revealed that initial electrical tests found that majority of Marathon’s miners were not materially damaged by the storm on June 11.
Marathon highlighted that 30,000 devices – about 75% of the company’s fleet have been out of action since the storm. Bitcoin blockchain explorers said Marathon’s Bitcoin production will be significantly reduced until repairs to the power generating facility in Montana can be completed. The company noted that the facility will remain out of power until it can be repaired. Marathon tweeted that the power plant cooling towers need repairs. It pointed out that miners outside Hardin (0.6 EH/s) remain hashing via a third-party pool.
Fred Thiel, Marathon’s CEO, said the facility could begin mining again at a reduced capacity as early as the first week of July. But for that repairs have to be made in time. The company has directed the remaining hash power to contribute to external mining pools while repairs are being made on the damaged facility. Thiel said Marathon has pointed its remaining active miners away from the company’s mining pool – MaraPool – as well as towards a third-party mining pool to increase the probability of earning Bitcoin.
Meanwhile, around 19,000 miners were awaiting the energy needed to switch the Texas-based facilities on.