Silvergate Bank issues $100M credit line to mining firm Marathon Digital

Photo from Cointelegraph

Read the full article by Turner Wright here

"We remain optimistic that we are well positioned to scale our hash rate to 13.3 EH/s by the middle of 2022,” said Marathon Digital CEO Fred Thiel.

Marathon Digital Holdings Digital Holdings, a United States based crypto mining company has secured a $100 million dollar credit line.

“In addition, Marathon Digital reported it had produced more than 1,252 BTC — roughly $59.5 million at the time of publication — during the third quarter of 2021, with 340.6 BTC minted in September alone— a 91% increase over Q2. The increase in Bitcoin production follows the firm acquisition of 26,960 ASIC mining machines from Bitmain, with an additional 8,459 miners expected soon.”
”Some major U.S. investment managers and financial services firms have purchased stakes in Marathon Digital, according to filings with the Securities and Exchange Commission. As of June 30, investment manager BlackRock owned a 6.71% stake in Marathon Digital, while Fidelity Investments purchased a 7.4% stake in the company for $20 million in July.”