Seeking Alpha
2022-09-06 20:38:51

Marathon Digital 'steadily improves' bitcoin production in August

Marathon Digital (NASDAQ:MARA) said Tuesday that it has improved its bitcoin (BTC-USD) production, mining 2,222 BTCs year-to-date through August 31, up 9% from July and +26% from the year-ago period.Its operating mining fleet consisted of approximately 24K active miners, producing ~3.2 exahashes per second of mining capacity, after ~25K miners were successfully energized in August.Based on its hosting provider's latest reports, Marathon (MARA) is expecting to have ~65K more miners, or ~6.9 EH/s, over the next three months, said Fred Thiel, the Marathon's chairman and CEO, reiterating his company's hashrate target of 23 EH/s by near mid-2023.Total bitcoin (BTC-USD) holdings were 10,311 with a fair market value of $206.7M as of the end of August, up from 10,127 at July 31.Previously, (Aug. 23) Marathon Digital stock climbed even as Cowen pointed to execution risk.

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