Marathon Digital Sacrifices Hashrate For Maintenance

Key Points:

• Marathon Digital is one of the leading U.S. crypto mining firms with 31,000 active miners with more ready to be installed, and orders for more to be delivered next year

• Marathon spent November maintaining and upgrading their mining fleet in Hardin, Montana

  • This caused a reduction of half the earnings that they saw in October (From 417.7 BTC in October to 196 BTC in November)

• Even so, Marathon’s total liquidity has reached $1.1 B, as of Dec. 1

These upgrades, combined with additional maintenance to improve the cleanliness and efficacy of the power generating station and the ongoing challenges reported in prior months, caused Marathon’s bitcoin mining operations to operate at substantially reduced capacity in November, negatively impacting the Company’s bitcoin production. The upgrades performed are expected to improve the power generating station’s efficiency, increase safety, mitigate the potential for unexpected downtime in the future, and ultimately improve the Company’s ability to effectively mine bitcoin. With many of these issues remediated, the Hardin power generating station, and therefore Marathon’s mining fleet in Hardin, were operating near full capacity as of December 1, 2021, which enabled the company to produce 34 bitcoin on the first day of December.

View full update from Marathon Digital Holdings