Marathon Digital ( NASDAQ: MARA ) said Tuesday it produced 472 bitcoin in November , 23% lower than the 615 bitcoin mined in October. Production was negatively impacted by curtailment at the King Mountain site in Texas, caused by spot market pricing of energy driven by weather combined with lower bitcoin prices. "We are working on optimizing curtailment strategies and site operations with the new operator and expect King Mountain's productivity to improve in the coming months," said Marathon ( MARA ) CEO Fred Thiel. The company produced 1,087 BTC quarter-to-date as of December 1 and 3,669 BTC YTD through November 30, up 35% Y/Y. 14K S19 XPs were installed in Garden City, Texas in November and are pending energization. Depending on Applied Digital's ( APLD ) energization timeline, Marathon ( MARA ) expects to have between 7 EH/s and 9 EH/s online by December 31. Marathon ( MARA ) said ~$22M of the remaining $42M in deposits with cryptocurrency-mining data center operator Compute North are recoverable. The recoverability of the rest remains unknown subject to bankruptcy proceedings. Compute North filed for Chapter 11 bankruptcy in August. Marathon ( MARA ) also reduced revolver borrowings from $50M as of November 9 to $30M as of November 30.
Tether Treasury Mints $1 Billion in $USDT
