The
publicly-listed cryptocurrency miner Marathon Digital Holdings, Inc.
(NASDAQ:MARA) has announced its March and first quarter 2023 production
statistics, showing a record number of Bitcoins (BTC) mined during the previous
month and the entire Q1.
According
to Marathon Digital’s press release from Tuesday, the crypto production reached
a record 825 BTC, rising 21% month-over-month (MoM). Due to the higher hash rate
that increased by 64% in the previous quarter to 11.5 EH/s, the company was
able to close the three months ending 31 March with a record-breaking 2,195 BTC
produced.
The number
of Bitcoin produced increased 74% compared to the same period a year earlier
(1,259 BTC) and 41% compared to the previous quarter (1,562 BTC). On an average
day, Marathon Digital can now mine 24.4 BTC, whereas a year ago, it was 14 BTC.
As of 1 April 2023, the company holds 11,466 BTC in inventory.
“During
the first quarter of 2023, we made notable progress executing on our two
primary initiatives for the year, which are to energize our previously
purchased mining rigs to reach our target of 23 exahashes by the middle of this
year and to optimize our performance so that we are both more effective and
more efficient,” Fred Thiel, the Chairman and CEO of Marathon Digital,
commented “
$MARA‘s March Production Update is here:
– Increased #Bitcoin Production 21% MoM
– Produced a Record 825 BTC in March ’23
-…
