Business
Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for November 2021
Total Liquidity Increases to $1.1 Billion as Marathon Completes Deployments in Hardin, MT and Begins Deploying Bitcoin Miners with Compute North LAS VEGAS,
About this update from Mara Holdings, Inc.
[{"type":"text","content":"Total Liquidity Increases to $1.1 Billion as Marathon Completes Deployments in Hardin, MT and Begins Deploying Bitcoin Miners with Compute North\nLAS VEGAS, Dec. 03, 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 November 2021. Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change) Corporate Highlights as of December 1, 2021 Cash on hand was approximately $623.7 million and total liquidity, defined as cash and bitcoin holdings, was approximately $1.1 billionReceived approximately 15,520 top-tier ASIC miners from Bitmain during the month of November and 56,826 miners year to date with an additional 8,477 miners currently in transitFully completed miner installations at the Company’s facility in Hardin, MT, as well as scheduled upgrades and maintenance to the power generating facility in Hardin, MTSecured hosting for all previous purchased bitcoin miners, predominantly at wind and solar farms operated by one of the largest renewable energy power providers in North AmericaBegan installing miners at various facilities operated by Compute NorthFollowing successful system upgrades to the power plant in Hardin, MT, produced approximately 34 bitcoin on December 1, 2021, as the power plant and Marathon’s miners in Hardin began operating near full capacityMaintenance and upgrades to the power generating facility in Hardin, MT negatively impacted bitcoin production for a portion of November, resulting in 196 self-mined bitcoin during November 2021Increased total bitcoin holdings to approximately 7,649.1 with a fair market value of approximately $437.4 millionExisting mining fleet consists of 31,000 active miners producing approximately 3.2 EH/s Power Generating Station Upgrades in Hardin, MTAs previously disclosed in the Company’s third quarter 2021 10-Q, system upgrades were performed as scheduled on the power generating station in Hardin, MT during November. These upgrades, combined with additional maintenance to improve the cleanliness and efficacy of the power generating station and the ongoing challenges reported in prior months, caused Marathon...