According to CoinDesk, Bitcoin mining company Marathon Digital (MARA) will store some of its digital assets through Fidelity Digital Asset and add a second custody partner to achieve diversification. Marathon Digital stated in a statement on Wednesday: "Historically, Marathon has always stored all bitcoins with one provider." The company added: "As part of its broader financial management strategy, it has added a new enterprise-level custodian as its second custodian." Marathon Digital said that it may further expand and add more custodians. As of September 30th, the company owned 13,726 bitcoins and produced over 1,000 bitcoins per month, so "we believe now is a good time to achieve bitcoin custody diversification among multiple custodians," said Marathon CFO Salman Khan in a statement.

Bitcoin miner Marathon Digital (MARA) reported a Q2 loss per share of $0.13 on revenues of $81.8 million, missing FactSet analyst estimates of a loss of $0.06 on revenues of $83.4 million. Despite this, Marathon shares remained steady at $15.73 in after-hours trading on Tuesday. The company has seen a 360% increase in shares this year due to the surge in bitcoin prices. Marathon's CEO, Fred Thiel, stated that the company has made progress in Q2 by increasing its hash rate and efficiency. Marathon is now the world's largest publicly traded bitcoin miner by self-mining hashrate, with 17.7 exahash per second of operational computing power on the bitcoin network in June.

Marathon Digital, a Bitcoin mining company, has attributed its decrease in Bitcoin mined in June to weather conditions in Texas and a drop in transaction fees. Despite producing 979 Bitcoin in June, a 21% decline from May, Marathon Digital saw a 599% increase compared to June 2022.

According to production reports, Marathon Digital has experienced significant hash rate growth this year, surpassing many of its publicly traded competitors. The Florida-based company has more than doubled its deployed fleet in the last six months, reaching an operational hash rate of 17.7 EH/s. Marathon plans to reach 23 EH/s by mid-year, with the final building in Ellendale expected to come online this month. Other notable public mining companies have not experienced the same level of growth, with Core Scientific reporting a self-mining hash rate of 15 EH/s at the end of June and Hut 8 Mining only experiencing a slight increase in hash rate capacity.

Marathon Digital Holdings, a Bitcoin mining company, has pledged to match donations up to $500,000 to non-profit Bitcoin research and development firm Brink on a two-for-one basis during the Bitcoin 2023 conference in Miami Beach, Florida. After the conference, they will match additional donations on a one-for-one basis until December 31.

Auradine, a Silicon Valley-based provider of web infrastructure solutions, has raised $81 million in a Series A funding round. The funding will be used to develop hardware and software infrastructure for decentralized applications. The round was led by venture capital firms Celesta Capital and Mayfield. Bitcoin mining company Marathon Digital Holdings also participated in the round. Auradine has deep ties to traditional technology companies as its CEO and co-founders previously held senior positions at semiconductor and cybersecurity firms. The funding and expertise from strategic investors will help Auradine build a web infrastructure platform to enable decentralized applications.

Bitcoin's price fell below its 55-day support at $27,000 on May 12, resulting in a two-day, 7% correction to $26,155 and the liquidation of $100 million worth of long BTC futures contracts. Despite this, Bitcoin margin and futures markets showed strength during the downturn, giving hope for a recovery towards $28,000.

Marathon Digital Holdings and Zero Two are collaborating to launch the Middle East's first immersion bitcoin mining operations in the United Arab Emirates. The two companies are constructing two large-scale facilities for cryptocurrency mining with a combined capacity of 250 MW.

In today's crypto news, a UK national behind a Twitter hack pleaded guilty to charges in the US, including stealing cryptocurrency and cyberstalking victims. A former Coinbase product manager was sentenced to two years in prison for insider trading involving cryptocurrency. Binance launched a free service platform for VIP users to connect with crypto investment managers.

According to Marathon Digital's CEO, the recent crypto winter has helped eliminate unscrupulous operators in the industry. Fred Thiel compared the market upheaval to the dot-com boom and believes that the stress the crypto market has gone through is forcing regulators to react. Thiel praised the regulatory efforts of the EU, UK, Hong Kong, Singapore, and the UAE but believes the US is lagging behind. He also believes that higher interest rates will make investors more risk-averse and contribute to a more commercialized crypto industry. The collapse of crypto firms could have positive side-effects, including opportunities for other players to buy up parts of collapsed firms.