(Marathon Digital) Marathon Digital Holdings says that a Montana storm that hit the town of Hardin on June 11 took over 75% of the company’s active mining fleet offline.
The company says the severe storm damaged several structures, including a facility that powers its mining operations.
Marathon says inspections to ascertain the extent of damage have been ongoing, with the plant’s cooling towers already in repair. The company says the storm did not damage its machines.
The miner says about 3,000 miners were deployed in Montana and are now offline. The company expects the knock to substantially impact its bitcoin production until the miners are relocated to new facilities, or repairs are completed.
Marathon further states that the severe storm knocked its hash rate in June, but committed to bring it to level terms, although this could take time.
Marathon is now expected to fast-track its initial plan to move its miners from the Montana facility after the storm. The company has initially scheduled the move for the third quarter.
MARA:NASDAQ is down -2.80%.
