Marathon Digital Mines Record 1,853 BTC in December, up 56% from November
Bitcoin mining company Marathon Digital has set a new production record by mining the highest amount of Bitcoin in a single month.
In a press release on January 4, the Florida-based firm announced that it successfully mined 1,853 Bitcoin during December, marking a 56% increase from the previous month and a 290% increase compared to the same period the previous year.
This accomplishment surpasses the previous record set by Core Scientific, which mined 1,527 BTC in January 2023.
Marathon’s December figures surpass that by more than 300 BTC, solidifying its position as a leading player in the Bitcoin mining space.
Fried Thiel, the Chairman and CEO of Marathon Digital Holdings, attributed the record-setting monthly production to an 18.4% increase in hash rate, reaching an impressive 22.4 exahashes per second.
“In December, we increased our energized hash rate 4% to 24.7 exahashes and extended our lead as the largest publicly traded bitcoin miner in North America,” Thiel said.
To further expand its mining operations, Marathon recently announced its plans to acquire two mining centers for $179 million.
This will add an additional 390 megawatts of mining capacity to Marathon’s existing output of 584 megawatts.
Thiel said the company will aim to achieve a 30% increase in energized hash rate throughout 2024.
“We continue to target 30% growth in energized hash rate in 2024 and with the recently announced acquisition of the two sites from Generate Capital, which is expected to close in January 2024, we expect to reach 50 exahashes in the next 18 to 24 months.”
The remarkable performance of Marathon Digital Holdings in December also garnered attention in the stock market.
On December 28, the company briefly
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