Marathon Digital experiments with overclocking to increase competitive advantage

One of the largest Bitcoin mining operations successful North America, Marathon Digital Holdings, has shared successful an update that it has been experimenting with overclocking to summation its competitory vantage successful the Bitcoin mining industry.

Overclocking is the signifier of expanding the timepiece velocity of a computer’s cardinal processing portion (CPU) oregon graphics processing portion (GPU) beyond the manufacturer’s rated maximum speed, perchance starring to improved show successful definite tasks. 

According to the company's property release, it produced 475 BTC successful December 2022, bringing its full mined Bitcoins successful the fiscal twelvemonth of 2022 to 4,144 BTC, a 30% summation from 3,197 BTC which was produced successful 2021. 

Marathon’s Chairman and CEO, Fred Thiel commented connected the company’s determination to experimentation with overclocking, saying: “These efforts presumption america to make our competitory advantages further and go a much businesslike and resilient concern arsenic we proceed to grow.” He added:

Currently, the institution has astir 69,000 progressive miners, susceptible of producing astir 7.0 exahashes per second, according to its update. 

Related: Silvergate faces class-action suit implicit FTX and Alameda dealings

Marathon Digital’s occurrence successful the Bitcoin abstraction tin beryllium attributed to its concern with Silvergate Bank, a fiscal services institution that provides banking and liquidity solutions to the integer currency industry. 

On Jan 5, Cointelegraph reported that Silvergate Bank had sold assets astatine nonaccomplishment and chopped unit to screen $8.1B successful withdrawals, owed to a slope tally triggered by the abrupt illness of FTX. The slope tally connected Silvergate has caused the institution to merchantability disconnected its assets astatine a loss, and chopped unit by 40% to screen $8.1 cardinal worthy of lawsuit withdrawals.

On Dec. 16, a class-action suit was filed against Silvergate, successful an effort to clasp it accountable for its alleged relation successful the nonaccomplishment of FTX lawsuit funds. The suit alleged that the slope is liable for its engagement successful "furthering FTX's concern fraud."