Marathon Digital Holdings Announces Bitcoin Production And Mining Operation Updates For December 2023; Record BTC Production Of 1,853 BTC In December And 12,852 BTC In 2023
Portfolio Pulse from Benzinga Newsdesk
Marathon Digital Holdings (MARA) reported a record Bitcoin production of 1,853 BTC in December and 12,852 BTC for the year 2023. The company's average operational hash rate increased by 18% month-over-month to 22.4 EH/s. Marathon's BTC holdings now exceed 15,000, with a total cash and BTC value of $1.0B as of December 31, 2023. The acquisition of two sites from Generate Capital is expected to close in January 2024, aiming to reach 50 exahashes in the next 18 to 24 months. Marathon also reported progress in Abu Dhabi and a joint venture in Paraguay, with further hash rate growth anticipated in early Q2 2024.
January 04, 2024 | 2:13 pm
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Marathon Digital Holdings announced record BTC production and significant operational improvements, with expectations for continued growth following an upcoming acquisition.
The record production figures and increased operational hash rate are strong positive indicators of Marathon's performance and could lead to increased investor confidence. The anticipated acquisition and expansion plans are likely to be viewed positively by the market, suggesting potential for stock price appreciation in the short term.
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