Marathon Digital attributes 21% decrease in June Bitcoin mining to weather conditions.

Bitcoin mining company Marathon Digital has attributed the recent decrease in Bitcoin mined in June to weather conditions in Texas and a decrease in transaction fees.

According to a statement on July 5th, Marathon Digital experienced a 21% decline in June compared to May in terms of the total amount of Bitcoin mined.

The main reason cited for the decrease in production, which resulted in 979 Bitcoin being produced during the month, was the impact of the weather conditions in Texas, where Marathon’s main operations are located.

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“The decrease in production compared to last month was due to weather-related limitations in Texas and a significant decrease in transaction fees.”

The beginning of June marks the transition from spring to summer in Texas.

According to data from the National Weather Service in Dallas, Texas, the average temperature increased by almost 8.4 degrees Fahrenheit between May and June. May had an average temperature of 75.6 degrees, while June had an average temperature of 84 degrees.

On February 6th, Cointelegraph reported that crypto mining firm Riot Platforms had 17,040 rigs go offline at its operations in Texas due to “severe winter weather” in the state.

The statement also mentioned that Marathon Digital’s transaction fees fell to approximately 5.1% of the total Bitcoin earned in June, compared to 11.8% earned in May.

It noted that the emergence of Bitcoin Ordinals significantly increased transaction fees in May, and while network congestion eased in June, the company remains optimistic about the future of mining economics.

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This is not the first time that Texas weather has had a major impact on crypto miners.

In July 2022, Peter Wall, CEO of crypto mining company Argo Blockchain, which operates a data center in West Texas, told Cointelegraph that the Electric Reliability Council of Texas issued a conservation alert, causing Argo and many other mining operators in the area to temporarily shut down mining activities.

In more recent news, a report by cryptocurrency analytics platform Coin Metrics on July 5th revealed that Bitcoin miners earned $184 million from transaction fees in the second quarter of 2023, which is more than what they earned throughout the entire year of 2022.

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