Marathon Digital Unveils 'Slipstream' for Faster Bitcoin Transactions Ahead of Anticipated Halving
Summary:
Marathon Digital Holdings, a prominent Bitcoin mining firm, has unveiled "Slipstream," a new service to expedite large and non-standard Bitcoin transactions. The Las Vegas-based company set a mining record in December 2023 with a total of 12,852 BTC for the year. As the Bitcoin industry prepares for the anticipated halving in April, Marathon Digital remains competitive, holding more than 15,000 BTC in its billion-dollar reserve, despite predictions favoring its rival, Riot Platforms.
Las Vegas-based Marathon Digital Holdings, a major player in Bitcoin mining and digital asset tech, recently launched a direct Bitcoin transaction service dubbed "Slipstream". This innovative service aims to expediate large and non-standard Bitcoin transactions, which often face delays due to their size or complexity, causing inconvenience for high-volume traders. As reported by Cointelegraph, Marathon Digital's "Slipstream" intends to eliminate these hurdles.
Existing direct transaction services are often limited; however, Slipstream provides a seamless, transparent, and reliable avenue for complex Bitcoin transactions to be added to the blockchain while maintaining protocol adherence. The mining pool, the scale, and the technical prowess of the Marathon team uniquely positions them to offer this service.
Marathon Digital holds a dominant position as one of the world's most active Bitcoin miners. In December 2023, the company set a record by mining 1,853 BTC, bringing the total for that year to 12,852 BTC, equivalent to more than half a billion dollars.
The Bitcoin space is ticking down to the much-anticipated halving, likely to occur in the third week of April, predicted on the outstanding blocks' count and the average mining time. Analysts anticipate this will drive the Bitcoin price up, although it's unclear how it will impact miners. Typically, post-halving has seen Bitcoin surge sharply. However, the halving implies a 50% reduction in block mining rewards, dropping from 6.25 to 3.125 BTC.
Given the volatility often seen around previous halvings, some miners might turn to other cryptocurrencies. Yet, Marathon Digital reportedly boasts more than 15,000 BTC in its billion-dollar reserve.
While some predict its close American rival, Riot Platforms, to emerge successful in the long term, Marathon Digital has ironically taken over the early lead in the race towards April.
Published At
2/22/2024 10:34:57 PM
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