• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
Marathon Digital Holdings Reported 17% Spike In Bitcoin Mining
Sensei Inu Logo

Marathon Digital Holdings Reported A 17% Spike In Bitcoin Mining

Asad Gillani by Asad Gillani
2 years ago
in Bitcoin
Reading Time: 3 mins read

The Bitcoin mining company, Marathon Digital Holdings recently revealed that the company mined a whopping 265.6 Bitcoins in June alone.

This number of BTC in June alone exceeds what the company had in May by 17%. The total amount for the whole quarter 2 sits at 654.3 Bitcoins.

From the first month of the year to the third month in 2021, the company could produce only 191.7 Bitcoins. However, in the second quarter, the number exceeded the first quarter’s production more than 3 times.

Related Reading | Report Shows United States At The Top Spot Among Crypto Ready Countries

A brief study of its monthly production since the year started shows that the company produced 50.4 BTC in January. In February, the number decreased to 43.4 BTC. March saw a rise of BTC production to 97.9, concluding the first-quarter figure.

In the second quarter, April production was a total of 162.1 BTC, which was a considerable increase from March.

Then in May, Marathon produced 226.6 BTC and 265.6 BTC in June. Each month in the second quarter saw a huge spike in its BTC production, thereby amounting to a total of 654.3 Bitcoins.

Marathon Digital Records An Increase In Bitcoin Holdings 

According to the publicly traded firm, its BTC holdings have increased considerably. It holds 5784 bitcoins worth $201.6 million according to the July BTC price of $34,855/BTC.

Marathon Digital Holdings Reported 17% Spike In Bitcoin Mining

Bitcoin is following a downward trend after dropping by 4% on the daily chart | Source: BTCUSD TradingView.com

The company also stated that its holdings include the 4,182 BTC purchased 6 months ago in January 2021 as an effort to become a “pure-play Bitcoin investment option”. The company will share a report of its earnings by next month.

Related Reading | Polygon Opens Vault On MakerDAO, Commits $50 Million Worth Of Matic Tokens

Another important piece of information in the report is that Marathon Digital has increased its fleet of miners to 19,395. In June, the company added 1720 miners as part of its goals to install above 100,000 before quarter 2 of 2022.

The crypto-mining company aims to increase its hash-rate power to 10.37 EH/s (exahashes per second). For now, the miners working for the company are generating 2.09 EHs.

Marathon Digital To Install More Mining Equipment

Also, in the report, Marathon Digital disclosed that 18,702 S-19 Pro ASIC miners came from Bitmain while 1056 Pro ASIC Miners are still on the way. Also, the company revealed that it had constructed containers for mining rigs at its facilities in Montana and Hardin.

According to the mining company, 12,000 miners will be added at the Hardin location in September end. It would also place 73,000 miners in Texas, where Compute North is hosting a 300-megawatt facility for them.

While speaking about the company’s recent surge in Bitcoin production, the CEO Fred Thiel disclosed that Marathon had upgraded and carried out routine maintenance on its systems.

Related Reading | TA: Bitcoin Correcting Gains, What Could Trigger Fresh Rally

According to Thiel, the aim was to prepare for the global hashrate, which may start declining. The company also selected May, June, and July for the upgrade because there’s always a slower delivery in them.

Due to the upgrades and routine maintenance operation, the Marathon CEO states that the company is now positioned to produce more Bitcoins. He also maintained that the company is ready to utilize favorable mining conditions as they surface.

Featured image from Pixabay, chart from TradingView.com
Tags: ASIC Minersbitcoin miningFred ThielMarathon Digital
Tweet123Share196ShareSend
Asad Gillani

Asad Gillani

Asad is a freelance writer. He is interested in cryptocurrencies, technology, and in particular the subject of online security. An open supporter of freedom of speech, privacy, and equality for all. On a personal level, he likes to stay socially active, loves playing snooker, cricket, enjoys seafood and loves listening to folk music.

Related Posts

Bitcoin vs bonds

Bonds Out, Bitcoin In? Bloomberg Analyst Predicts Major Portfolio Shifts

3 hours ago
Bitcoin monthly close September

Bitcoin Price Trend At Stake: How September’s Close Could Change Everything

1 day ago
Bitcoin

BULLISH: Bloomberg Analyst Points Out Two Key Bitcoin Metrics Demonstrating Historic Strength

2 days ago
Spot Bitcoin ETF

Market Analysts Outline When The First Spot Bitcoin ETF Will Be Approved

2 days ago
Bitcoin price predictions 2024

Bitcoin Price Predictions For 2024: Insights From Major Banks To Hedge Funds

2 days ago
Bitcoin price

Crypto Analyst Says Prepare For 100% Increase In Bitcoin Price As Historical Pattern Forms

3 days ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Rise of Bitcoin Spark: How It Challenges the Dominance...

    3 hours ago
  • Microsoft AI Picks Tradecurve Markets (TCRV), Terra Classic...

    3 hours ago
  • Bulls Are All In For Everlodge (ELDG), Why Are Litecoin...

    4 hours ago
  • Discover Tradecurve Markets (TCRV): The Solution to Stellar...

    4 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    5 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.