Marathon Digital Unleashes An Astonishing Mining Haul Of 1,853 Bitcoins In December

In December, Marathon Digital mined a staggering 1,853 Bitcoin, marking its highest monthly yield to date.

Marathon Digital Holdings, a Bitcoin miner, achieved a new production milestone by mining more Bitcoin in December than ever before, surpassing $43,748 in BTC ticker value.

In a press release on January 4, the Florida-based company announced mining 1,853 Bitcoin in December, marking a 56% surge from November and a 290% rise from the same period last year, stating:

Core Scientific had asserted its mining supremacy in January 2023, citing the production of 1,527 BTC. However, Marathon’s latest data eclipses that by over 300 BTC.

Marathon Digital Holdings’ December 2023 #Bitcoin Production Update is here:

– Record BTC Production of 1,853 BTC in December and 12,852 in 2023
– Increased Average Operational Hash Rate 18% M/M to 22.4 EH/s
– BTC Holdings Now Over 15,000, Total Cash & BTC of $1.0B as of…

— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) January 4, 2024

Marathon’s chairman and CEO, Fried Thiel, credited the record-breaking monthly output to an 18.4% surge in hash rate, now standing at 22.4 exahashes per second.

The company unveiled intentions on December 19 to acquire two mining centers at $179 million, boosting its current 584-megawatt capacity by an additional 390 megawatts.

“We continue to target 30% growth in energized hash rate in 2024 and with the recently announced acquisition of the two sites from Generate Capital […] we expect to reach 50 exahashes in the next 18 to 24 months,” added Thiel.

On December 28, Marathon briefly surged to become the most traded public company among mid and large-cap firms in the U.S. stock market. Witnessing a remarkable daily trading volume of $3.3 billion, it outperformed established market giants like Tesla, Apple, and Amazon.

Marathon’s standout performance in December coincides with Bitcoin mining firms’ renewed efforts to expand operations ahead of potential approval for a spot Bitcoin exchange-traded fund (ETF) and the impending Bitcoin halving in April.

Riot Platforms, a competitor mining firm, made a significant move on December 5 by acquiring an additional $291 million worth of Bitcoin mining rigs, achieving the firm’s highest-ever hash rate increase.

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.