Marathon mined 3,197 BTC in 2021, an 846% enhance from final yr – Bitcoin Journal

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  • Marathon mined 3,197 Bitcoin in 2021, an 846% increase over the previous year.
  • In December, the company produced 147% more bitcoin than in November.
  • Marathon received over 10,000 new mining rigs from Bitmain in December.

Bitcoin mining company Marathon Digital Holdings had a record year in 2021 when it produced over 3,000 Bitcoin, up from 338 BTC the previous year, the company said in a statement on Monday. The miner now holds a total of 8,133 BTC, valued at approximately $ 370 million at the time of writing.

Marathon’s monthly production also spiked in December as the miner saw its operation near total capacity after a previous month marked by maintenance and upgrades at its power plants. The miner produced 417.7 BTC in October, 196 BTC in November, and 484.5 BTC in December.

“2021 was a year of transformation for Marathon as we increased our hash rate by 1,790% and our Bitcoin production increased by 846% year-on-year to 3,197 self-mined BTC,” said Fred Thiel, CEO of Marathon, in a statement. “We ended the year with our most productive month to date, producing 484.5 Bitcoin in December and 1,098 Bitcoin in the fourth quarter.”

Marathons monthly production of self-mined Bitcoins and the total hash rate of the Bitcoin network. Source: Marathon Digital Holdings.

Marathon said it used 30,391 bitcoin mining machines over the past year to increase its hash rate capacity from 0.2 exahashes per second (EH / s) in January to 3.5 EH / s in December. The company also expanded a hosting agreement with Compute North to accommodate 100,000 miners, an additional 30,000 rigs from the original deal. Marathon said its mining fleet currently consists of 32,350 active machines.

In December, Marathon announced the purchase of 78,000 bitcoin mining rigs from Bitmain, valued at $ 879 million, to achieve over 23 EH / s hash rate capacity by the end of next year. According to the terms of the purchase agreement, the company will receive 13,000 machines per month between July and December 2022.


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