Marathon Digital Holdings, a Bitcoin (BTC) mining and digital asset technology company headquartered in Las Vegas, Nevada, has recently introduced a new service called “Slipstream” that allows for direct Bitcoin transaction submissions. The purpose of this service is to facilitate and expedite large and complex Bitcoin transactions.
Typically, when Bitcoin transactions are too big to fit on the blockchain or too intricate to be processed normally, they experience delays while simpler transactions are prioritized. This can be frustrating for individuals or groups involved in frequent and substantial trading.
Marathon Digital’s “Slipstream” service, as stated in a press release seen by Cointelegraph, has been specifically designed and tested to overcome these limitations. Marathon Digital is one of the largest and most active Bitcoin miners globally. In December 2023, the company achieved a record by mining 1,853 BTC, and throughout the year, they mined a total of 12,852 BTC, valued at over half a billion dollars.
The upcoming Bitcoin halving, anticipated to occur around the third week of April, adds a sense of urgency to the situation. The timing of the halving is estimated based on the remaining number of blocks and the current average mining time. While many analysts predict a subsequent increase in Bitcoin’s price following the halving, there is uncertainty surrounding its impact on miners.
Historically, Bitcoin has experienced significant price surges after halvings. However, the term “halving” implies a 50% reduction in mining block rewards, from 6.25 BTC to 3.125 BTC per block. This reduction raises concerns about the profitability of mining operations.
Prior halvings have led to a reevaluation of the mining landscape, with some miners shifting their focus to other cryptocurrencies. It is worth noting that Marathon Digital reportedly holds over 15,000 BTC, amounting to a war chest valued at more than $1 billion. While some analysts believe that Riot Platforms, a close competitor based in the United States, may be better positioned for long-term success, Marathon Digital has emerged as the early frontrunner in the race leading up to April.