Marathon Digital now mines nearly 2,000 BTC per month

Marathon Digital extract 1853 bitcoins last month. A new record for the publicly traded American minerwhose hashrate today exceeds 22 EH/s.

Digital Marathonone of the largest bitcoin mining firms on the planet, announced on Thursday that it had mined 1853 digital coins in December 2023, bringing its annual production to 12,852 units.

The Nasdaq-listed company, which holds a treasure trove of 15,174 BTC held with several custodians, also said it had sold 704 tokens in December to cover operating costs.

Hashrate growth and ongoing efficiency gains helped increase operational hashrate by 18% to 22.4 exahashes […] This helped generate record bitcoin production as Marathon mined 1,853 BTC in December, up 56% on November and 290% year-on-year. We believe this is the highest monthly total ever recorded by a public mining company specializing in Bitcoin”, boasted Fred Thiessen. said Fred Thiel, Marathon’s CEO.

The miner’s production had already reached a record high last June, but then plummeted over the following months, notably due to the hot weather in Texas.

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“Significantly higher transaction fees enabled December bitcoin production to grow much faster than the average operational hash rate. Our success in capturing the significant transaction fees currently available to miners is directly linked to owning and operating our own pool and represents a key competitive advantage of our vertically integrated technology stack,” added Thiel.

Fees on the Bitcoin network have risen sharply since November, according to data provided by Bitinfocharts. The price of a transaction has tripled and now averages over $10.

This year, Marathon aims to increase its mining power, or hashrate, by 30%, with the ultimate goal of reaching 50 EH/s within the next 2 years.

Last month, the miner announced its intention to acquire rival companies. It closed a first operation at the end of December.

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