Bitcoin mining company Marathon Digital produced 2,926 BTC in the second quarter, a quarter-on-quarter increase of 33%

ChainCatcher news, Marathon Digital executives stated in the earnings call that the hash rate grew by 54% in the second quarter, increasing from 11.5 EH/s to 17.7 EH/s. The company produced 2926 BTC in the second quarter, a 33% increase compared to 2195 BTC in the first quarter. The total amount of BTC produced in the second quarter accounted for approximately 3.3% of the Bitcoin network rewards available during that period.

Additionally, Marathon sold 63% of the BTC produced this quarter to cover operating costs, with total revenue reaching $23.4 million. However, the company reported a net loss of $21.3 million in the second quarter, up from a net loss of about $7 million in the previous quarter.