Marathon Digital Holdings, one of the largest publicly traded mining companies in North America, has confirmed Bitcoin production and mining updates for March 2022. He also revealed that the company was able to produce a record 1,259 BTC in the first quarter of 2022, which is an increase of 556 % year over year from Q1 2021 and 15% sequentially from Q4 2021.
Bitcoin Holdings rises to 9,374 BTC
Marathon reveals that hash rate “increased 14% from the previous quarter, with deployments expected to ramp up in the coming weeks as the authorization and approval process is finalized.” Importantly, the company will generate 23.3 exahash per second (EH/s) by early 2023, regardless of the 45-day delay in rolling out the mining rigs in the coming days.
As noted in our previous December 2021 report, Marathon Digital plans to to expand its Bitcoin mining contribution of 600% and has ordered 199,000 miners which it will receive in 2022. Fred Thiel, CEO of Marathon Digital Holdings added in his statement:
“Our bitcoin production would have increased by 17% to 1,282 BTC had the global hash rate remained constant since the end of Q4 2021. We continue to hold, or HODL, all of our bitcoins, and as a result, we now hold 9,374 bitcoins. , cementing our position as one of the largest bitcoin holders among publicly traded companies.
Marathon ready to sell
According to a new report from Bloomberg, Marathon Digital Holdings Inc. is open for sale according to the company’s CEO statement. Importantly, the CEO said he was “willing to talk, but it has to be the right price.”
“A generation company can sell its electricity to itself cheaply, so it would be the most profitable bitcoin miner over time,” Thiel said. “How are they evolving? They’re going to find a big miner that they’re going to acquire and they’re scaling up overnight.
The CEO of Marathon pointed out that it will be the energy industry that will dominate the Bitcoin mining industry and have the largest participation in it.