Bitcoin mining companies Marathon and Riot doubled their hash rates year-on-year

According to reports, data shows that the hash rates of Bitcoin mining companies Marathon Digital and Riot Platforms have doubled since June 2023.

On July 3, Marathon reported an average operating hash rate of 26.3 EH/s in June, a year-on-year increase of 102% from 13.0 EH/s. The change also marks a 2% increase from 25.8 EH/s per month. The company aims to reach 50 EH/s by the end of the year. Marathon attributed its increase in hash rate to operational improvements at its Ellendale plant and the plant's full operation in July.

On July 3, Riot Platforms said its hash rate reached 22.0 EH/s in June, up 106% from 10.7 EH/s in June 2023 and 50% from 14.7 EH/s in May.

The company increased its hash rate by adding 7.3 EH/s of hash rate capacity across two buildings at its Corsicana facility. It also utilized available capacity at its Rockdale facility.

In addition, CleanSpark recently reported that its hash rate had doubled since December 2023, while BitFarms increased its month-end hash rate year-over-year from 5.3 EH/s to 10.4 EH/s.