Marathon Digital mined a record 2,195 Bitcoin in Q1, up 74% from this time last year, and also reported a monthly record of 825 BTC mined in March.
In a statement, chief executive Fred Thiel said Marathon made “notable progress” on executing its two primary initiatives for 2023 — to energize its previously purchased mining rigs to reach 23 exahashes by the end of the second quarter and to optimize performance.
The firm is now exactly on target, having increased its operational hash rate from 7.0 exahashes on Jan. 1 to 11.5 exahashes as of March 31. Marathon’s management attributed the increase in efficiency to it bringing online 25,900 Bitcoin miners based in various facilities in North Dakota, bringing its fleet to 105,200 mining rigs as of April 1.
Marathon explained its operational improvements cleaned up part of its balance sheet by wiping out $50 billion in debt in addition to
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Marathon mines record bitcoins in March and first quarterMarathon Digital Holdings mined a company-record 825 bitcoins in March. It also mined a company-record 2,195 bitcoins in the first quarter.
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