Marathon Digital Holdings (NASDAQ: MARA), a leader in supporting and securing the Bitcoin ecosystem, has released unaudited Bitcoin (“BTC”) production and miner installation updates for October 2022. According to the announcement, the company produced a record 615 BTC in October with total Bitcoin holdings reaching 11,285 BTC with a fair market value of $231.3 million. The report also noted that, after approximately 32,000 miners were successfully energized during the month, MARA’s operating mining fleet consisted of some 69,000 active miners producing approximately 7.0 EH/s at month’s end. The company has scheduled a webcast and conference call to discuss financial results for Q3, the period ended Sept. 30, 2022; the event is slated for Nov. 8, 2022, at 4:30 p.m. ET. The webcast will be broadcast live and will also be available for replay on the company’s website. “October was the most productive month in Marathon’s history both in terms of hash rate growth and bitcoin production,” said Marathon Digital Holdings chair and CEO Fred Thiel in the press release. “The energization of approximately 32,000 of our miners during the month allowed us to increase our hash rate approximately 84% from approximately 3.8 exahashes per second at September 30 to approximately 7.0 exahashes per second at November 1. By successfully growing our hash rate and maintaining uptime, we were able to produce a record 615 bitcoin in October. With S19 XPs now being delivered and new facilities under construction, we believe we are well positioned to continue building on our recent momentum to reach 23 exahashes per second in 2023.”
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About Marathon Digital Holdings
Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America, while remaining asset light. For more information about the company, please visit www.MarathonDH.com.
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