Newsletter
CoinSharks
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services
No Result
View All Result
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services
No Result
View All Result
CoinSharks
No Result
View All Result
Home News

Marathon Digital Achieves Record-Breaking 2,195 Bitcoin Mining in Q1

Tom "The Tiger" by Tom "The Tiger"
April 5, 2023
in News
0
Marathon Digital Achieves Record-Breaking 2,195 Bitcoin Mining in Q1
389
SHARES
1.8k
VIEWS
Share on FacebookShare on Twitter

Marathon Digital, a Bitcoin mining company, has set a new quarterly production record by mining 2,195 BTC in Q1 2023. This represents a 74% increase from the same period last year and a 41% increase from Q4 2022. The company has increased its operational hash rate by 195% from Q1 2022, and its monthly record of BTC mined was 825 in March, worth approximately $23.3 million. Marathon’s CEO, Fred Thiel, said the company has made notable progress on its two primary initiatives for 2023, which are to reach 23 exahashes by the end of Q2 and to optimize performance.

The company is now on target, having increased its operational hash rate from 7.0 exahashes on Jan. 1 to 11.5 exahashes as of March 31. Marathon finished the quarter with approximately $124.9 million in unrestricted cash and cash equivalents and 11,466 BTC, which equates to over $450 million. Marathon expects operational efficiencies to continue with the purchase of new Antminer S19 XPs Bitcoin mining rigs, said to be nearly 30% more efficient than the Antminer S19 Pro.

Related articles

US district judge refers FTX independent examiner issue to appellate court

US district judge refers FTX independent examiner issue to appellate court

May 31, 2023
Class-Action Lawsuit Filed Against Bancor DAO for Alleged Failure to Deliver on Impermanent Loss Protection Promises

U.S. prosecutors state that if the Bahamas raises objections, certain SBF charges will be dropped

May 31, 2023
Share156Tweet97

Related Posts

US district judge refers FTX independent examiner issue to appellate court

US district judge refers FTX independent examiner issue to appellate court

by The Megalodon
May 31, 2023

A motion for the appointment of an independent examiner in the bankruptcy case of crypto exchange FTX has been referred...

Class-Action Lawsuit Filed Against Bancor DAO for Alleged Failure to Deliver on Impermanent Loss Protection Promises

U.S. prosecutors state that if the Bahamas raises objections, certain SBF charges will be dropped

by The Megalodon
May 31, 2023

According to a filing in the U.S. District Court for the Southern District of New York, some of the charges...

Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

by The Megalodon
May 31, 2023

Dubai-based cryptocurrency exchange Bybit has revealed its decision to halt operations in Canada due to recent regulatory developments. The exchange...

AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

by The Megalodon
May 31, 2023

An open statement published by the Center for AI Safety (CAIS) has garnered signatures from numerous AI experts, including the...

Competing regulatory bills take center stage in US House stablecoin hearing

US CFTC Releases Letter Addressing Compliance in Three Areas of Digital Asset Derivatives and Clearing

by The Megalodon
May 31, 2023

The United States Commodity Futures Trading Commission (CFTC) has issued a staff advisory letter to registered derivatives clearing organizations (DCOs)...

Load More
  • Trending
  • Comments
  • Latest
Kaspersky reports a 40% increase in crypto phishing attacks within a year

Kaspersky reports a 40% increase in crypto phishing attacks within a year

April 17, 2023
Investors Must Be Aware of These 3 Points from the C3.ai Report by Short-Sellers

Investors Must Be Aware of These 3 Points from the C3.ai Report by Short-Sellers

April 18, 2023
XRP Price Nears ‘Sell the News’ Moment Following a 20% Weekly Gain in the Crypto Market

XRP Price Nears ‘Sell the News’ Moment Following a 20% Weekly Gain in the Crypto Market

March 28, 2023
THORChain Halts Mainnet Due to Potential Network Vulnerability Reports

THORChain Halts Mainnet Due to Potential Network Vulnerability Reports

March 29, 2023
Protecting Your Crypto: The Importance of AML Frameworks in Web3

Protecting Your Crypto: The Importance of AML Frameworks in Web3

President Biden Proposes Phased-In 30% Tax on Cryptocurrency Mining Electricity Usage

President Biden Proposes Phased-In 30% Tax on Cryptocurrency Mining Electricity Usage

Explaining the Reasons for the Recent Downturn in Ethereum (ETH) Price: A Macro Analysis

Explaining the Reasons for the Recent Downturn in Ethereum (ETH) Price: A Macro Analysis

Breaking Barriers: Women in Web3 Leading the Charge for Diversity and Inclusion

Breaking Barriers: Women in Web3 Leading the Charge for Diversity and Inclusion

US district judge refers FTX independent examiner issue to appellate court

US district judge refers FTX independent examiner issue to appellate court

May 31, 2023
Class-Action Lawsuit Filed Against Bancor DAO for Alleged Failure to Deliver on Impermanent Loss Protection Promises

U.S. prosecutors state that if the Bahamas raises objections, certain SBF charges will be dropped

May 31, 2023
Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

Bybit cryptocurrency exchange withdraws from Canada due to ‘recent regulatory changes’

May 31, 2023
AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

AI Experts Issue Document Comparing the Risk of ‘Extinction from AI’ to Pandemics and Nuclear War

May 31, 2023
  • Premium Services
  • Terms of Service
  • Privacy Policy

All Rights Reserved. CoinSharks.

No Result
View All Result
  • Bitcoin
  • Ethereum
  • Altcoins
  • Nasdaq
  • NYSE
  • Regulation
  • Shark School
  • Premium Services

All Rights Reserved. CoinSharks.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.