Marathon Digital, a notable Bitcoin (BTC) miner, has confirmed the mining of an invalid block on the Bitcoin network. The invalid block occurred on September 26 at 9:42 pm UTC at block height 809478. According to the firm, the invalid block was mined as a result of an experiment on optimization.
According to , the error emerged from an unforeseen bug within their internal development environment. This glitch was unrelated to Marathon’s principal Bitcoin production pool or Bitcoin Core, the leading software associated with the network.
We can confirm that Marathon did mine an invalid block. We utilize a small portion of our hash rate to experiment with our development pool and research potential methods to optimize our operations. The error was the result of an unanticipated bug that came from one of our…— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) September 27, 2023
Research groups and Bitcoin researchers including , and "0xB10C", an anonymous core developer, classified as a "transaction ordering issue," which was then by Jameson Lopp, CasaHODL founder. BitMEX Research that two transactions were ordered incorrectly and thus resulted in the invalid block. According Bitcoin developer "mononaut" the transactions were , leading to the misalignment.
Despite the setback, was swift in addressing the issue. They stressed that a minimal portion of their hash rate was allocated for such experimental purposes. However, industry analysts, including Dylan LeClair, recommended that future tests of this nature should be , safeguarding the main Bitcoin network from potential errors.
Reflecting on the incident, Marathon emphasized the resilience of the Bitcoin network, stating that it "functioned exactly as designed" by recognizing and rectifying the invalid block.
In this case, invalid blocks are immediately rejected by any nodes that the miner attempts to upload to. The onus then falls on the miner to try and fix bugs or vulnerabilities that gave way to the invalid block in the first place. All of these is part of the robust consensus algorithm and security that Bitcoin's blockchain offers.
Marathon Digital, established in the cryptocurrency arena since 2021, holds a significant position as the among public entities, next to (NASDAQ: MSTR). (NASDAQ: MARA) share price decline by roughly 2.91% as markets closed by 20:00 EDT on September 27. The firm currently holds 11,466 BTC in its balance sheets with stock price at $8.01 holding a market cap of $1.4 billion.
Disclaimer: This article is provided for informational purposes only. It is not intended as legal, tax, investment, financial, or other advice.