Marathon Digital Holdings announced its June 2024 Bitcoin (CRYPTO:BTC) production and miner installation updates, revealing a 2% month-over-month increase in operational hashrate to 26.3 exahash per second (EH/s).

Despite this improvement, the company experienced a 40% year-over-year decrease in Bitcoin production, generating 590 BTC due to the April halving.

Marathon's total Bitcoin holdings reached 18,536 BTC, with a combined cash and Bitcoin balance of $1.4 billion.

The company is optimising its mining capabilities with immersion cooling and next-generation hardware to reach a target of 50 EH/s by year-end.

Internationally, Marathon launched a 2-megawatt pilot project in Finland to enhance sustainability.

Marathon plans to sell some of its Bitcoin holdings to support operations and seek opportunities for strategic acquisitions.