Business
Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for May 2021
Total Bitcoin Holdings to Increase to Approximately 5,518 BTC as Marathon’s Hashrate Increases to Approximately 1.9 EH/s LAS VEGAS, June 02, 2021 (GLOBE
About this update from Mara Holdings, Inc.
[{"type":"text","content":"Total Bitcoin Holdings to Increase to Approximately 5,518 BTC as Marathon’s Hashrate Increases to Approximately 1.9 EH/s\nLAS VEGAS, June 02, 2021 (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 May 2021. Corporate Highlights as of June 1, 2021 Produced 226.6 new minted bitcoins during May 2021, increasing total bitcoin holdings to approximately 5,518 with a fair market value of approximately $203.4 million Cash on hand was approximately $191.8 million and total liquidity, defined as cash and bitcoin holdings, was approximately $395.1 million Received approximately 16,809 S-19 Pro ASIC miners from Bitmain year to date with an additional 1,911 S-19 Pro ASIC miners currently in transit Increased active mining fleet to approximately 17,655 miners, generating approximately 1.9 EH/s On May 31, 2021, announced that the Company’s Bitcoin mining pool, MaraPool, was adopting and implementing Bitcoin Core version 0.21.1 Bitcoin Production UpdateAs of June 1, 2021, Marathon’s mining fleet has produced approximately 580.5 newly minted bitcoins during 2021. By month, the Company’s bitcoin production was as follows: January 2021: 50.4 BTC February 2021: 43.4 BTC March 2021: 97.9 BTC April 2021: 162.1 BTC May 2021: 226.6 BTC As a result, Marathon currently holds approximately 5,518 BTC, including the 4,812.66 BTC the Company purchased in January 2021 for an average price of $31,168 per BTC. On May 31, 2021, the fair market value of one bitcoin was approximately $36,857, implying that the approximate fair market value of Marathon’s current bitcoin holdings is approximately $203.4 million. Miner Installations and Hashrate GrowthAs of June 1, 2021, Bitmain has delivered approximately 16,809 S-19 Pro ASIC miners to the Company’s mining facility in Hardin, MT, all of which were delivered on time and as scheduled. During the month of May, Marathon installed 5,571 new miners, increasing the Company’s active mining fleet to approximately 17,655 miners, generating approximately 1.9 EH/s. New miners continue to be installed on a daily basis. Based on current delivery and installation schedules, Marathon continues to expect all previously purc...