Business
Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for March 2022
- Company Produces a Record 1,259 BTC in Q1 2022, up 556% Year-Over-Year from Q1 2021 and up 15% Sequentially from Q4 2021- Total Bitcoin Holdings Increase to
About this update from Mara Holdings, Inc.
[{"type":"text","content":"- Company Produces a Record 1,259 BTC in Q1 2022, up 556% Year-Over-Year from Q1 2021 and up 15% Sequentially from Q4 2021- Total Bitcoin Holdings Increase to 9,374 BTC- Hash Rate Increased 14% from the Prior Quarter with Deployments Expected To Ramp in the Coming Weeks as Permitting and Approval Process is Finalized LAS VEGAS, April 04, 2022 (GLOBE NEWSWIRE) -- Marathon Digital Holdings, Inc. (NASDAQ:MARA) (\"Marathon\" or \"Company\"), one of the largest enterprise Bitcoin self-mining companies in North America, today published unaudited bitcoin (“BTC”) production and miner installation updates for March 2022. Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change) Corporate Highlights as of April 1, 2022 Produced a record 1,258.6 self-mined bitcoin during Q1 2022, a 556% increase from 191.8 self-mined bitcoin in Q1 2021 and a 15% sequential increase from 1,098.2 self-mined bitcoin in Q4 2021Q1 2021 bitcoin production would have increased 17% from the prior quarter to 1,281.5 BTC, holding the global hash rate constant from December 31, 2021 to March 31, 2022Produced 436.1 self-mined bitcoin during March 2022, a 21% increase from the 360.4 self-mined bitcoin during February 2022Increased total bitcoin holdings to approximately 9,373.6 BTC with a fair market value of approximately $427.7 millionCash on hand was approximately $118.5 million and total liquidity, defined as cash and bitcoin holdings, was approximately $546.2 millionSuccessfully deployed 1,320 miners in the month of MarchIncreased hash rate 14% during the first quarter of 2022 from the fourth quarter 2021Received approximately 5,600 S19 ASIC miners from BITMAIN during the month of MarchExisting mining fleet consists of 36,830 active miners producing approximately 3.9 EH/sAfter receiving final permits and regulatory approval, miners are currently expected to be energized in the coming weeks and deployments accelerate throughout the rest of 2022The Company continues to expect its mining operations to be 100% carbon neutral by the end of 2022 Bitcoin Production UpdateYear-to-date, Marathon’s mining fleet has produced 1,258.6 bitcoin, a 556% increase over the same time period in the prior year. By month, the Company’s bitcoin production was as follows: *Note: Upgrades and maintenance to the power g...