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Bitcoin Hashrate Surges 56% in 2024; Marathon Digital Increases Hash Rate by 15% to 53.2 EH/s, Holds 44,893 BTC

Jan 3, 2025, 11:25 AM

Bitcoin's hashrate experienced a notable increase of 56% in 2024, rising from 512 exahash per second (EH/s) to 800 EH/s. Projections indicate that if this growth continues at an annual rate of 20%, the hashrate could reach 1 zettahash per second (ZH/s) by 2027. This surge in hashrate enhances network security but also escalates energy costs for miners. Meanwhile, Marathon Digital Holdings (MARA) reported a 15% increase in its own hash rate, now at 53.2 EH/s, and expanded its Bitcoin holdings to 44,893 BTC. MARA's CEO, Fred Thiel, advocates for a long-term investment strategy in Bitcoin, suggesting that retail investors should buy and hold Bitcoin, citing its strong performance over the years. He noted that Bitcoin has only fallen in three of the last 14 years, positioning it as a potentially favorable investment despite current market fluctuations.