Marathon and Riot Set New Bitcoin Production Records Amid Rising Mining Difficulty

Marathon Digital and Riot Platforms achieved record-high Bitcoin production post-halving in October, driven by enhanced transaction fees and increased hashrate despite rising network challenges.

In October, two major public Bitcoin miners, Marathon Digital and Riot Platforms, set post-halving records in BTC production, navigating increasing network difficulty and capturing elevated transaction fees. Marathon Digital, one of the largest BTC miners, announced on November 4 that it produced 717 BTC in October, a 2% increase from September, making this its most productive month since the April halving that cut mining rewards by half.

Fred Thiel, Chairman and CEO of Marathon, attributed the gains to both the firm’s proprietary technology, which maximizes fee capture, and increased transaction fees from large transactions, including two transactions yielding fees of 3.217 BTC and 2.665 BTC respectively. “Our proprietary technology, including Slipstream and MARAPool, has optimized our production capabilities, allowing us to benefit from higher transaction fees,” Thiel commented.

Marathon also reported a rise in its active hashrate, which reached 40.2 exahashes per second (EH/s), up by 14% from September. The company is targeting a 50 EH/s milestone by year-end through additional miner installations, infrastructure advancements, and energizing new immersion containers. As of October 31, Marathon held 27,562 BTC, with a daily average production of 23.1 BTC throughout the month.

Riot Platforms saw similarly impressive growth, with its October BTC production surging to 505 BTC, a 23% increase over September. Riot’s CEO, Jason Les, noted that this increase was driven by enhanced hashrate deployment and operational efficiencies, especially following the installation of new MicroBT miners at its Corsicana facility. Riot’s hashrate rose to 29.4 EH/s, up from 28.2 EH/s in September, contributing to a notable production increase. By month-end, Riot’s holdings grew to 10,928 BTC, marking a solid boost from September’s 10,427 BTC.

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