Marathon Digital Energized 25,000 Miners in August, Produced 184 Bitcoins

The company had previously faced issues of mining rigs installed, but with no energy service.

AccessTimeIconSep 6, 2022 at 9:55 p.m. UTC
Updated Sep 7, 2022 at 1:00 p.m. UTC

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Bitcoin miner Marathon Digital (MARA) said it energized about 25,000 previously installed miners in August, adding about 2.5 exahash per second (EH/s) in computing power and bringing total hashrate to roughly 3.2 EH/s.

  • The company produced 184 bitcoin (BTC) in August, bringing the year-to-date total to 2,222. Month-end bitcoin holdings rose to 10,311 with a fair market value of $206.7 million. No coins were sold during the month.
  • Marathon sees about 65,000 additional miners, or 6.9 EH/s of capacity, being brought online over the next 90 days.
  • Energization delays along with weather-related issues had caused bitcoin mining production to fall to 707 in the second quarter from 1,259 in the previous three months.
  • Marathon shares fell 2.3% alongside a slide in the price of bitcoin to below $19,000. The stock's little-changed in after hours action.

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Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.