Crypto-Follow logo Crypto-Follow logo
Seeking Alpha 2022-05-04 13:16:08

Marathon Digital reports 31% drop in April self-mined bitcoin

Marathon Digital (NASDAQ:MARA) reported total bitcoin holdings of 9,673 BTC as of May 1, 2022 with a fair market value of $365.5M; this is in comparison to 9,373.6 as of Apr.1. YTD, Marathon's mining fleet has produced 1,558 bitcoin (+340% Y/Y). The company installed 4,183 miners, representing ~0.4 EH/s in containers at new facility in Texas. Operating mining fleet consists of 36,830 active miners producing ~3.9 EH/s with thousands of additional miners expected to be energized in May. During April 2022, the company produced 299 self-mined bitcoin compared to 436.1 in March due to ongoing maintenance and downtime at the power plant in Hardin, MT. Cash on hand stood at ~$40.4M and total liquidity, now defined as cash and available credit facilities, was ~$70.4M. The company also holds 9,673 BTC with a fair market value of $365.5M. Marathon continues to expect its mining operations to be 100% carbon neutral by 2022-end. Given the

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer