Bitcoin

April

Marathon Digital, a key player in Bitcoin mining, recently conducted an operational experiment that led to the mining of an invalid Bitcoin block. While emphasizing their intent not to disrupt the network, the incident raised eyebrows among Bitcoin developers and analysts. 
They claimed that the flaw, which came from the company’s internal development environment, had nothing to do with either their Bitcoin production pool or Bitcoin Core, the most popular program used to join the Bitcoin network and run a node. According to mempool.space, the issue happened on September 26 at 9:42 PM UTC on block 809478 
Marathon emphasized that they were not attempting to change the network in any way in a post on September 27 and that they use a little portion of the company’s hashrate for these experiments. 
We can confirm that Marathon did mine an invalid block. We utilize a small portion of our hash rate to experiment with our development pool and research potential methods to optimize our operations. The error was the result of an unanticipated bug that came from one of our…— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) 
The mishap was noted that such experiments should have been tested on a more secure platform before reaching the mainnet. 
This is what MARA's invalid block at 809478 looks like: – pink transactions no longer exist in the main chain – blue transactions are invalid due to ordering (they spend an output from a transaction included later in the block) 
Despite the unintentional error, Bitcoin’s resilience shone through as it quickly rejected and corrected the invalid block, showcasing the network’s robust security. However, the incident had an immediate impact on Marathon’s share price, causing it to plummet by 2.91% to $8.01 during the opening hours on September 27, according to Google Finance. 
This incident, while unintended, underscores the robust security of the Bitcoin network, which rejected and rectified the anomalyMarathon on the incident. 
This share price dip highlights the market’s sensitivity to developments within the industry and their potential consequences for associated companies. It serves as a stark reminder of the intricate relationship between cryptocurrency performance and the valuation of firms like Marathon Digital. 
Earlier this year, Marathon disclosed that the US Securities and Exchange Commission (SEC) had issued a second subpoena to company for its 100-megawatt data center in Hardin, Montana. 
The <a href="https://news.todayq.com/sec-goes-after-bitcoin-miner-marathon-soon-after-it-announced-plans-to-expand-in-abu-dhabi/">subpoena</a>, which was obtained on April 10, relates to dealings with linked parties that happened when the facility was being built. Potential violations of federal securities laws are being looked at by the SEC. Marathon has acknowledged that it is taking part in the SEC’s inquiry. 
© Todayq News

Marathon Digital’s failed Bitcoin mining experiment sparks share price drop

Todayq News

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