Ineffective 'Experiment' By Bitcoin Miner Marathon Results In The Mining Of An Erroneous Batch
According to Marathon, the flaw originated from its test mining pool, which was designed to investigate how to make activities more efficient.
Marathon Digital, a Bitcoin mining company, has acknowledged that it processed a wrong Bitcoin block as part of an experiment meant to improve the way the business operates. In an announcement on September 27, Marathon emphasized that it only uses a small portion of the company's hashrate for these tests and emphasized that they are not attempting to change the network's configuration in any manner.
As reported by mempool.space, the issue happened on September 26 at 9:42 PM UTC on block 809478. In addition to Research, many Bitcoin engineers claimed that the faulty block was caused by a transaction sequencing problem. The mongonaut Bitcoin engineer thinks Marathon made an error by reverting to making transactions in the order of increasing relative costs.
While performing this test on Bitcoin's mainnet, Marathon ought to have done so on a testnet, Bitcoin expert Dylan LeClair stated. In retrospect, Marathon claimed that by discarding the wrong block, Bitcoin worked precisely as designed. Marathon's CEO said that, despite the revenue shortfall, the company generated a historic 2,926 Bitcoin during the second fiscal quarter of 2023. Marathon Digital, a crypto mining company, reported second-quarter 2023 revenue and sales that fell short of forecasts.
The profits for the second quarter of 2023 from Marathon were $81.8 million as opposed to the $83.2 million projection made by Zacks Investment Analysis on August 8. In contrast to Zacks's expectation of a 3 cent loss per share, the cryptocurrency miner announced earnings from share a net loss of 13 cents. The mining company's income climbed by 228% in comparison to the second quarter of 2022, notwithstanding revenue goals being missed. The more successful quarter increased Marathon's 2023 income during the first two quarters to $132.8 million, increasing 73.3% during the initial half of 2022.
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