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Home»BLOCKCHAIN NEWS»Marathon Digital CEO predicts Bitcoin halving breakeven point at $43,000
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Marathon Digital CEO predicts Bitcoin halving breakeven point at $43,000

By Crypto FlexsMarch 15, 20242 Mins Read
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Marathon Digital CEO predicts Bitcoin halving breakeven point at ,000
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Fred Thiel, CEO of Marathon Digital Holdings, predicted that the break-even point for Bitcoin mining will rise to around $43,000 after the upcoming halving event.

The significant increase over the current industry average of $23,000 highlights the potential impact on miners’ profitability. Thiel shared these insights in a Bloomberg Television interview, highlighting the challenges and adjustments miners will face.

Marathon Digital, the leading U.S. Bitcoin mining company, is aggressively expanding its power infrastructure and deploying new equipment to mitigate expected revenue declines due to the halving. Thiel emphasized that the company urgently needs greater capacity as it approaches its current limit.

Continuing its strategy to strengthen its operations, Marathon Digital recently announced the acquisition of a 200 MW data center in Garden City, Texas for more than $87 million. The purchase follows significant investment earlier this year, when Marathon secured several sites for $179 million. Through these acquisitions, Marathon significantly increased its stake in mining operations from approximately 3% to 53%.

Several Bitcoin mining companies have seen notable surges in their stock prices as Bitcoin hit an all-time high of $73,000 earlier this month. Marathon Digital has particularly benefited from Bitcoin’s recent rebound, as the company’s stock price is currently at $19.22, up more than 170% from last year.

The mining industry is bracing for the halving, which is expected to significantly reduce miners’ income. So companies like Marathon are racing to scale up their operations, targeting wider margins to offset the looming revenue slump.

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