{"id":475406,"date":"2021-11-04T03:07:01","date_gmt":"2021-11-04T03:07:01","guid":{"rendered":"https:\/\/wncen.com\/?p=475406"},"modified":"2024-06-11T14:00:02","modified_gmt":"2024-06-11T14:00:02","slug":"bitcoin-mining-raises-marathon-holds","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-mining-raises-marathon-holds\/","title":{"rendered":"Bitcoin Mining Raises Marathon Digital’s BTC Holds To $457M"},"content":{"rendered":"
The large American-based bitcoin self-mining company, Marathon Digital Holdings, reported an increase of total BTC holdings on its October update of the company\u2019s bitcoin production and mining operations.<\/p>\n
In October, the company increased its total bitcoin holdings to around 7,453 BTC after mining 417.7 bitcoins. This translates to $457.4 million of market value, and their total liquidity now reaches approximately $478.3 million.<\/p>\n
The company has been ‘hodling’ the totality of its mined and bought bitcoins since October 2020, taking into account 4,812.66 BTC purchased past January at the price of $31,168 per BTC.<\/p>\n
\u00a0<\/span>Related Reading |\u00a0<\/i><\/b>Marathon Digital Holdings Reported A 17% Spike In Bitcoin Mining<\/a><\/strong><\/em><\/p>\n Furthermore, after buying $120,7 million of mining machines from Bitmain, they received a shipment of roughly 42,381 top-tier ASIC miners, \u201cwith 12,331 delivered to a Compute North facility\u201d pending deployment \u201cand an additional 3,285 ASIC miners currently in transit\u201d. They currently have 27,280 active miners on their fleet, resulting in a production of 2.96 EH\/s.<\/p>\n While deliveries of miners may continue to fluctuate in the near-term, based on current estimates, the Company still anticipates all previously purchased miners to be delivered by mid-2022. Once all miners are fully installed, the Company\u2019s mining fleet is expected to consist of approximately 133,000 miners, generating approximately 13.3 EH\/s.<\/p><\/blockquote>\n Their MaraPool<\/a>, which is fully audited and focuses on lowering BTC mining\u2019s environmental impact, reached 3.0 EH\/s with a network hash rate of 170.9 EH\/s. Fred Thiel, Marathon\u2019s CEO, stated<\/a>:<\/p>\n In addition to improving our bitcoin production, MaraPool reached 3.0 EH\/s, and we began sending our first batches of miners to one of Compute North\u2019s facilities. We also began chartering planes in October to expedite the delivery of our miners and to mitigate the adverse effects of global logistics issues on our growth. By chartering planes, we decreased the average time it took for miners to be shipped and delivered by approximately 50% from September to October.<\/p><\/blockquote>\n