In the quarterly report shared on 3rd April, Marathon Digital announced that the company has recorded a 74% hike in the total number of Bitcoins mined in the first quarter and a 41% hike from the last quarter of 2022. Marathon Digital minted 2,195 Bitcoins in the first three months of the year that worth more than 62.7 million dollars as per the present Bitcoin prices.
This substantial hike in the total mining hash of Marathon Digital could be possible because it attempts to bring online more than 25K Bitcoin miners in North Dakota. This resulted in the total hash rate of Marathon Digital crossing 11.5 exhashes by March 31. Marathon also shared that they have paid $50 million in indebts and cleared all the due balances with the Silvergate Bank while also increasing the total unrestricted BTC holdings to over 3100 BTC.
The BTC mining organization is also going to incorporate a new lot of Antminer S19 XPs Bitcoin mining rigs which are claimed to be 30% more power efficient than its last Pro variant. However, mining rig testers have noted down some serious concerns regarding the overheating of the rigs along with the total shutdown of the system.
It would be interesting to see how Marathon Digital will leverage the new lot of Antkminers as they are powerful machines and could further increase the hash rate for this BTC mining giant.
Also, Read - Regulators Take Action Against AI-Powered Crypto Ponzi Scheme YieldTrust.ai
