Marathon Digital Holdings, a leading player in supporting and securing the Bitcoin ecosystem, announced major updates to Bitcoin production and mining operations for December 2023.
Marathon Digital Produced a Record Number of BTC
The company produced a record 1,853 BTC of Bitcoin in December, a significant increase of 56% compared to November.
Thus, total Bitcoin production for 2023 reached 12,852 BTC. The company currently holds more than 15,000 BTC and has a total cash and Bitcoin value of $1 billion as of December 31, 2023.
Marathon also reported that the average operational hash rate increased by 18% compared to the previous month, to 22.4 exahashes per second (EH/s).
This growth was driven by the powering of approximately 8,900 Bitcoin miners at Applied Digital's facility in Garden City, Texas, increasing the company's operating fleet by 7% to approximately 199,200 Bitcoin miners.
Fred Thiel, Marathon's Chairman and CEO, said:
“In December, we increased our energized hash rate by 4% to 24.7 exahash and maintained our leadership as the largest publicly traded Bitcoin miner in North America.
“We continue to target 30% growth in energized hash rate in 2024 and, with the recently announced acquisition of two fields from Generate Capital, expected to close in January 2024, we expect to reach 50 exahash within the next 18 to 24 months.”
The company also reported progress in its international operations.
In Abu Dhabi, 2.7 exahash are currently online, including more than 13,000 rigs powered at Marathon's second and larger facility in Masdar City. Another 4.4 exahash is expected to become operational this month.
*This is not investment advice.
