Marathon Digital, a Nasdaq-listed Bitcoin mining firm, produced a whopping amount of 1,853 Bitcoins in December, the highest of all past months.
In the latest release, Marathon announced that it had achieved the highest monthly Bitcoin production in December, with a total of 12,852 Bitcoins produced during 2023. At the current BTC market price, the company generated a revenue of nearly $565 million from its Bitcoin mining operations.
The company generated a surplus of 666 Bitcoins compared to November’s total production of 1,187 Bitcoins, which is a 56% increase. Marathon has recorded a growth of 290% when compared to the company’s 475 Bitcoin production of December 2022.
This surge in Bitcoin production is a direct result of Marathon’s increased mining capacity, as well as higher transaction fees have also helped the company achieve the milestone.
The firm also launched a massive mining unit in Abu Dhabi last year, following its expansion plans.
“In December, we increased our energized hash rate 4% to 24.7 exahashes and extended our lead as the largest publicly traded bitcoin miner in North America,” said Fred Thiel, Marathon’s chairman and CEO.
“We continue to target 30% growth in energized hash rate in 2024 and with the recently announced acquisition of the two sites from Generate Capital […] we expect to reach 50 exahashes in the next 18 to 24 months.”
Marathon is currently the biggest Bitcoin miner, and it is aiming to increase operational capacity with its recent multiple acquisitions of mining sites. The firm believes that these acquisitions will improve its cost structure and overall growth.
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