MARA Pool’s Bitcoin Production Dropped by 45% in January

Marathon, the largest public bitcoin mining company by proprietary hashrate, may report a notable drop in January’s bitcoin production in the coming days.

Bitcoin network data shows that Marathon’s MARA (NASDAQ: MARA) Pool mined 980 BTC in January, which was down 44.5% compared to December’s record reward of 1,765 BTC. That represented a much larger setback than the decline of bitcoin’s mining production benchmark.

Bitcoin’s total mining rewards, including block subsidies and transaction fees, subsided to 31,366 BTC in January, representing a 14.4% decline on a month-over-month basis. Meanwhile, bitcoin’s monthly network hashrate set a new record of 521 EH/s after a brief interruption caused by the cold outbreak in Texas.

As such, on average, each EH/s of computing power could only produce 1.94 BTC in a day in January, down 16.7% from 2.33 BTC/EH/s in December. That means if a company did not increase or decrease its operating hashrate, its production in January would also drop by 16.7%.