Marathon Mined Almost 2,000 BTC in December

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Mining companies have recently released their results for the previous month. In January, Marathon Digital Holdings announced that they had mined a record-breaking number of coins, specifically 1853 BTC, in December 2023.

In total, they mined 12,852 BTC for the entire year. According to a press release, their hashrate had increased by 4% to 24.7 EH/s.

The company plans to further increase this figure by 30% in 2024, and with the acquisition of two properties from Generate Capital, they hope to reach a hashrate of 50 EH/s within the next 18-24 months.

Marathon CEO Fred Thiel stated that for the month, their mining pool, MaraPool, collected 380 BTC in transaction fees, which accounted for 22% of their BTC production.

This was a significant increase from the previous month’s 12%. As of December 31, 2023, Marathon had 15,174 BTC on their balance sheet.

They sold 704 BTC to cover operating expenses and plan to continue selling a portion of their BTC assets for “monthly operations, treasury management, and general corporate purposes.”