Thiel also confirmed that the new target would be “fully funded,” with no need to raise additional capital. If Marathon meets its 50 EH/s target, it will have increased its hash rate by more than 100% from the beginning of 2024.
Marathon’s (MARA) stock declined 0.42% to $19.01 on April 25 before rallying 3.05% in after-hours trade on the announcement, according to Google Finance. Much of the initial demand at block 840,000 was driven by memecoin and nonfungible token aficionados competing to inscribe and etch “rare satoshis” via the Runes protocol.
Despite this surge, transaction fees dropped to $28.20 by April 24, according to YCharts.