Marathon Digital mined twice as much BTC in September compared to August

Leading cryptocurrency miner Marathon Digital mined 360 BTC in September, a significant improvement over the 184 BTC produced in August.

The company’s total bitcoin holdings rose to 10,670 BTC, which equates to more than $215 million (at the time of writing).

Latest marathon performance

The BTC miner produced 616 BTC in the third quarter of 2022 and moved part of the plant’s infrastructure from Montana to Texas.

In September, the company mined 360 bitcoins – nearly double the amount compared to August. In July it broke 72 BTC.

Currently, the company’s operational mining fleet consists of approximately 57,000 active miners, producing approximately 5.7 EH/s. The increased computing power is due to an additional 19,000 miners who started a marathon at the end of the third quarter.

“We expect to continue building our hash rate in the fourth quarter as approximately 19,000 additional miners are expected to come online, equivalent to approximately 2.0 exhashes per second, over the course of the 30 days,” said Fred Thiel – Chairman and CEO of Marathon. coming”.

The organization stuck to its plan not to sell any of its bitcoins. Currently, it has 10,670 BTC with a market capitalization of over $215 million (in today’s figures). The last time Marathon sold some BTC was in October 2020.

The miner also promised to move about 3,000 of its miners from its Compute North facilities in South Dakota and Nebraska to new areas. However, the move is not a result of Compute North filing for Chapter 11 bankruptcy.

Marathon arrow on the way

After the announcement, the Las Vegas-based company (which went public on Nasdaq in 2013) saw its stock price increase. Currently, MARA is trading at $13.10, or up 5% per day.

However, stocks are still far from their November 2021 high when it topped $75. At that time, bitcoin had risen to nearly $70,000.

These days, the picture looks very different, with BTC struggling to maintain its $20,000 price level while the total cryptocurrency market cap has shrunk from $3 trillion to $1 trillion.

Post-Marathon Digital Mined appeared twice as much as BTC in September compared to August for the first time on CryptoPotato.

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