Marathon Digital’s 50 EH/s September hash rate expansion

Marathon Digital grew its energized hash rate to 53.2 EH/s in January 2025. This expansion follows a 2024 target to reach 50 EH/s. The global Bitcoin network reached 0.96 ZH/s in July 2026. Hashprice in July 2026 was $29/PH/s/day. Bitcoin prices in July 2026 were approximately $61,000. The network passed the 1 ZettaHash mark in 2025. Hashrate increased by 104% in 2024. During the first quarter of 2024, Bitcoin prices rose by over 256%. The US held 37.84% of the global hashrate in 2022. Canada held 6.48%. The Asia-Pacific region includes Singapore at 1.96%, Australia at 3.13%, and Malaysia at 2.51%. Europe holds 5-10% of the market, including Germany at 3.06%, Ireland at 1.97%, Sweden at 0.84%, and Norway at 0.74%. China, Kazakhstan, and Russia collectively held more than 40% of the global market share in 2021. Marathon manages a 1.8-gigawatt portfolio and 1.1 gigawatts of flexible compute. This capacity includes 139 megawatts of owned generation.

Energy Myths and the Green Revolution

Common myths about Bitcoin energy use fail to account for current realities. Over 56.7% of the Bitcoin network uses sustainable energy. In 2021, this figure was only 34%. Hydroelectric power provides 23% of the global mining energy mix. Miners purchase excess wind power in West Texas and solar power in California. Methane capture at oil wellheads reduces greenhouse gas impacts by 90% compared to direct venting. Companies like Crusoe Energy convert methane into electricity. This process turns wasted gas into productive hashes. These miners act as a buyer of last resort for curtailed renewable energy. This process turns stranded energy into productive hashes. The energy profile of Bitcoin mining depends on geographic availability. Hydroelectric power acts as a backbone in regions like Quebec, British Columbia, Norway, and Sichuan. Wind power provides energy in West Texas and the Midwestern United States. Solar power usage grows in California, Australia, and the Middle East. The network draws between 170 and 180 TWh annually. Ethereum abandoned Proof of Work in 2022, which cut its energy use by more than 99.9%. Will the industry continue to rely on these stranded energy sources?

Efficiency and the Cost of Electricity

Efficiency and electricity costs determine if a miner survives. The April 2024 halving dropped the block reward from 6.25 BTC to 3.125 BTC. This event increased the cost of producing one Bitcoin to $37,856. The gap between industrial electricity rates at $0.03 per kilowatt-hour and residential electricity rates at $0.20 per kilowatt-hour determines if a mining operation produces a profit or a total loss. Industrial users in the United States pay between $0.10 and $0.15 per kWh. Residential users often pay between $0.16 and $0.20 per kWh. Home mining on residential power is a losing proposition.

Modern operations use sub-15 J/TH hardware. An Antminer S21 XP breaks even at $0.088/kWh. An S23 Hydro breaks even at $0.124/kWh. Older S19 class machines require electricity below $0.055/kWh. You should check your local industrial rates before you buy any equipment. A mining rig consuming 3.25 kW at $0.06 per kWh over 24 hours against 90 terahash yields a minimum earning requirement of $0.052 per TH. An Antminer S21 Pro generates roughly $2,600 in gross annual output. Operators plan for 5 to 10% of annual revenue for repairs and parts.