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Data from Farside Investors reveals that the top 11 Bitcoin mining companies, ranked by market capitalization, reported a 10.9% increase in Bitcoin production in July 2024. This growth resulted in a total of 3,217 BTC mined across these firms, showcasing the resilience and strategic advancements within the industry, according to <a href="https://cryptoslate.com/insights/top-bitcoin-miners-boost-july-production-by-10-9-led-by-marathon-digital/">Cryptoslate</a>. 
 Marathon Digital Takes the Lead 
Leading the charge is Marathon Digital Holdings (NASDAQ: MARA), which produced 692 BTC in July, solidifying its position as a dominant player in the market. Following Marathon, <a href="https://ultramining.com/news/en/cleanspark-doubles-down-on-bitcoin-mining-with-55m-expansion/">CleanSpark</a> (NASDAQ: CLSK) and <a href="https://ultramining.com/news/en/bitcoin-mining

-giant-core-scientific-prepares-for-post-bankruptcy-comeback/">Core Scientific</a> (NASDAQ: CORZ) mined 494 BTC and 411 BTC, respectively. Riot Platforms Inc. (NASDAQ: RIOT) also posted impressive results with 370 BTC, marking a remarkable 45% month-over-month (MoM) increase in production. 
Among these top companies, only Core Scientific did not see a MoM increase, highlighting a unique challenge amid an overall positive trend in the sector. Collectively, the market capitalization of these leading mining firms stands at approximately $21 billion. 
 Market Share Insights 
In terms of production share, Marathon Digital holds a commanding 21.5%, CleanSpark follows with 15%, Core Scientific has 13%, and Riot Platforms accounts for 12%. With roughly 13,700 BTC mined monthly from issuance, Marathon's production equates to approximately 5% of the total monthly supply. 
 Challenges in the Current Landscape 
The post-halving environment continues to present significant challenges, with Bitcoin's price hovering around $56,000 and a hash price of approximately $40 per PH/s. This climate puts pressure on smaller or less efficient miners, who may struggle to maintain profitability as mining difficulty remains at all-time highs. A difficulty adjustment is anticipated on August 15, with an expected decrease of around 4%, which could provide some relief.

Marathon Digital Boosts Bitcoin Production by 10.9% in July

Ultramining_Eng

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