484.5! Marathon Digital Sets Another Record for Bitcoin Production in December
Marathon Digital Holdings Inc (NASDAQ:MARA) (MARA.US) mined a total of 1,098 bitcoins (BTC-USD) in the fourth quarter, including a record 484.5 bitcoins mined in December, compared to just 196 bitcoins mined in November. The company's total bitcoin holdings now stand at approximately 8,133, with a fair market cap of approximately $375.8 million.
The company's hash rate also shot up 1,790% from 0.2 EH/s in January 2021 to 3.5 EH/s in December 2021. Notably, the company took delivery of approximately 10,365 ASIC miners from Bitmain in December and continues to install miners at various facilities operated by Compute North.
We expect to see these deployments accelerate as we go into full production," said Marathon Digital CEO Fred Thiel. shares of Marathon Digital rose 0.6 percent in after-hours trading on Jan. 3. Marathon Digital said at the end of 2021 that it will purchase an additional 78,000 bitcoin miners.