Marathon Digital Sets Monthly Bitcoin Mining Record in December

• In December, the corporation mined 1,853 Bitcoin, which is a 290% rise YoY.
• The record-breaking monthly output was caused by a hash rate rise of 18.4 percent.

The mining operation run by Marathon Digital Holdings set a new monthly record for Bitcoin output in December 2023.

In December, the corporation mined 1,853 Bitcoin, which is a 290% rise over December 2022 and a 56% increase from November. Furthermore, the firm considers this to be the greatest monthly total ever achieved by a public Bitcoin mining company, according to a press statement dated January 4.

Significant Expansion

Moreover, after mining 1,527 BTC in January 2023, Core Scientific said that it has mined the most Bitcoin per month. The most current numbers from Marathon are around 300 BTC higher than that. Also, according to Fried Thiel, chairman and CEO of Marathon, the record-breaking monthly output was caused by a hash rate rise of 18.4 percent, reaching 22.4 exahashes per second.

With the acquisition of two mining centers for $179 million, Marathon will be able to increase its mining capacity from 584 MW to 590 MW, as stated on December 19.

For a short while on December 28th, Marathon was the most-traded public company among big and mid-cap corporations on the U.S stock market. The firm outpaced market behemoths that day with a trading volume of $3.3 billion.

Furthermore, given the impending halving of Bitcoin in April and the anticipated approval of a spot Bitcoin ETF as early as January 8th, Marathon’s December performance is in line with the increased drive by Bitcoin mining corporations to expand operations.

Riot Platforms, a rival mining corporation, increased its hash rate to its highest point ever on December 5 with the acquisition of more Bitcoin mining equipment valued at $291 million.

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