Marathon Digital, a leading Bitcoin mining firm, has announced a new quarterly production record of 2,195 Bitcoin mined in Q1 2023. This new record puts Marathon Digital on track to achieve its mid-year target of 23 exahashes. At the time of writing, the total value of the mined Bitcoin amounts to around $62 million. This is a significant milestone as it represents a 74% increase from the first quarter of the previous year and a 41% increase from Q4 2022. Here are more details on Marathon Digital’s Q1 report:
Q1 Report
Marathon Digital’s latest report reveals the following highlights:
- The monthly record of 825 BTC mined in March represents a 21% increase from February
- The firm increased its operational hash rate by 195% from Q1 2022
- Marathon’s management attributed the increase in efficiency to bringing online 25,900 Bitcoin miners based in various facilities in North Dakota, bringing its fleet to 105,200 mining rigs as of April 1
- Marathon wiped out $50 billion in debt and increased its unrestricted Bitcoin holdings by 3,132 Bitcoin after prepaying its term loan and terminating its credit facilities with Silvergate Bank
- Marathon expects to purchase a new batch of Antminer S19 XPs Bitcoin mining rigs that are said to be nearly 30% more efficient than the Antminer S19 Pro
It is worth noting that Marathon’s figures have not been audited yet.
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