One of many largest Bitcoin (BTC) mining operations in North America, Marathon Digital Holdings, has shared in an replace that it has been experimenting with overclocking to extend its aggressive benefit within the BTC mining trade.
Overclocking is the observe of accelerating the clock velocity of a pc’s central processing unit (CPU) or graphics processing unit (GPU) past the producer’s rated most velocity, probably resulting in improved efficiency in sure duties.
In response to a press launch, Marathon produced 475 BTC in December 2022, bringing its complete mined Bitcoin within the fiscal 12 months of 2022 to 4,144 BTC, a 30% improve from the three,197 BTC produced in 2021.
Marathon chairman and CEO Fred Thiel commented on the corporate’s choice to experiment with overclocking, saying: “These efforts place us to develop our aggressive benefits additional and change into a extra environment friendly and resilient enterprise as we proceed to develop.” He added:
“We additionally took proactive measures to strengthen our liquidity place and improve the efficiency of our mining fleet.”
At the moment, the corporate has roughly 69,000 energetic miners, able to producing roughly 7 exahashes per second, based on its replace.
Associated: Silvergate faces class-action lawsuit over FTX and Alameda dealings
Marathon Digital’s success within the Bitcoin house could be attributed to its partnership with Silvergate Financial institution, a monetary providers firm that gives banking and liquidity options to the digital foreign money trade.
On Jan. 5, Cointelegraph reported that Silvergate Financial institution was pressured to unload its property at loss and lower workers by 40% to cowl $8.1 billion in withdrawals on account of a financial institution run triggered by the sudden collapse of FTX.
On Dec. 16, a class-action lawsuit was filed in opposition to Silvergate in an try to carry it accountable for its alleged function within the lack of FTX buyer funds. The lawsuit alleges that the financial institution is accountable for its involvement in “furthering FTX’s funding fraud.”