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Marathon Digital Holdings

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cryptocurrency2 years ago•1 min saved

Bitcoin Mining Giant Marathon Digital Expands Operations with $179 Million Acquisition

Marathon Digital Holdings, a publicly traded Bitcoin miner, has acquired two Bitcoin mining sites for $178.6 million in preparation for the upcoming Bitcoin halving. The move will add 390 megawatts of capacity and is expected to reduce the cost per coin mined by around 30%. The halving, which occurs roughly every four years, cuts miners' rewards in half to keep Bitcoin inflation in check. Marathon Digital is the second-largest holder of Bitcoin among public companies, with 13,396 BTC on its balance sheet. The halving is expected to take place in April, and investors are divided on its impact on the market.

via Decrypt|

#bitcoin #bitcoin-halving #cryptocurrency

cryptocurrency2 years ago•6 min saved

Bitcoin Mining Companies Report Production and Expansion Updates for Q1 2023.

Marathon Digital Holdings, a leader in supporting and securing the Bitcoin ecosystem, reported a 21% month-over-month increase in Bitcoin production, producing a record 825 BTC in March 2023 and a record 2,195 BTC in Q1 2023. The company also increased its hash rate by 64% in Q1 2023 to 11.5 EH/s as of March 31, 2023. Marathon reported unrestricted cash and cash equivalents of $124.9 million and increased unrestricted Bitcoin holdings to 11,466 BTC (c. $326.5 million) as of March 31, 2023. The company aims to become one of the largest and most energy-efficient Bitcoin mining operations globally.

via Investor Relations|

#bitcoin #cryptocurrency #financial-update