Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for October 2022
02 Novembro 2022 - 05:05PM
Marathon Digital Holdings, Inc.
(NASDAQ:MARA) ("Marathon"
or "Company"), a leader in supporting and securing the
Bitcoin ecosystem, today published unaudited bitcoin (“BTC”)
production and miner installation updates for October 2022.
Management Commentary“October
was the most productive month in Marathon’s history both in terms
of hash rate growth and bitcoin production,” said Fred Thiel,
Marathon’s chairman and CEO. “The energization of approximately
32,000 of our miners during the month allowed us to increase our
hash rate approximately 84% from approximately 3.8 exahashes per
second at September 30 to approximately 7.0 exahashes per second at
November 1. By successfully growing our hash rate and maintaining
uptime, we were able to produce a record 615 bitcoin in October.
With S19 XPs now being delivered and new facilities under
construction, we believe we are well positioned to continue
building on our recent momentum to reach 23 exahashes per second in
2023.”
Recent Highlights
- Produced a record 615 BTC in
October 2022
- As of November 1, operating mining
fleet consisted of approximately 69,000 active miners, producing
approximately 7.0 EH/s, after approximately 32,000 miners (c. 3.2
EH/s) were successfully energized during October 2022
- Year-to-date through October 31,
2022, produced 3,197 BTC, a 27% increase over the same time period
in the prior year
- Total bitcoin holdings increased to
11,285 BTC with a fair market value of approximately $231.3 million
as of October 31, 2022
- Unrestricted bitcoin holdings were
approximately 3,464 BTC with a fair market value of approximately
$71.0 million
- Unrestricted
cash on hand was approximately $52.1 million at October 31,
2022
Miner Energization and Installations
UpdatesIn October, approximately 32,000 of Marathon’s
previously installed miners, representing approximately 3.2 EH/s,
were successfully energized and brought online. As a result, the
Company’s hash rate increased to approximately 7.0 EH/s (c. 69,000
active miners) as of November 1, 2022.
Based on current construction and installation
schedules provided to Marathon by its hosting providers, the
Company continues to expect to have enough miners installed to
generate approximately 23 EH/s near the middle of fiscal year
2023.
Once all of Marathon’s previously purchased
miners are installed, approximately 66% of the Company’s hash rate
is expected to be generated by S19 XPs, which are approximately 30%
more energy efficient than the prior generation. As a result, once
fully operational, Marathon’s Bitcoin mining operations are
currently expected to be among the largest and most energy
efficient on a per terahash basis.
Q3 2022 Earnings Webcast and Conference
CallMarathon Digital Holdings will hold a webcast and
conference call on Tuesday, November 8, at 4:30 p.m. Eastern time
to discuss financial results for the third quarter ended September
30, 2022.
To register to participate in the conference
call, or to listen to the live audio webcast, please use this link.
The webcast will also be broadcast live and available for replay
via the investor relations section of the Company’s website.
Date: Tuesday, November 8, 2022Time: 4:30 p.m.
Eastern time (1:30 p.m. Pacific time)Submit Questions in Advance:
LINKRegister for Earnings Webcast: LINK
If you have any difficulty connecting with the
conference call, please contact Marathon’s investor relations team
at ir@mara.com.
Investor Notice Investing
in our securities involves a high degree of risk. Before making an
investment decision, you should carefully consider the risks,
uncertainties and forward-looking statements described under "Risk
Factors" in Item 1A of our most recent Annual Report on Form 10-K
for the fiscal year ended December 31, 2021, filed with the
SEC on March 10, 2022. If any of these risks were to occur, our
business, financial condition or results of operations would likely
suffer. In that event, the value of our securities could
decline, and you could lose part or all of your investment.
The risks and uncertainties we describe are not the only ones
facing us. Additional risks not presently known to us or that we
currently deem immaterial may also impair our business operations.
In addition, our past financial performance may not be a reliable
indicator of future performance, and historical trends should not
be used to anticipate results in the future. Future changes in the
network-wide mining difficulty rate or Bitcoin hash
rate may also materially affect the future performance of
Marathon's production of bitcoin. Additionally, all discussions of
financial metrics assume mining difficulty rates as of September
2022. See "Forward-Looking Statements" below.
Forward-Looking
Statements Statements made in this press release
include forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements can
be identified by the use of words such as “may,” “will,” “plan,”
“should,” “expect,” “anticipate,” “estimate,” “continue,” or
comparable terminology. Such forward-looking statements are
inherently subject to certain risks, trends and uncertainties, many
of which the Company cannot predict with accuracy and some of which
the Company might not even anticipate and involve factors that may
cause actual results to differ materially from those projected or
suggested. Readers are cautioned not to place undue reliance on
these forward-looking statements and are advised to consider the
factors listed above together with the additional factors under the
heading “Risk Factors” in the Company's Annual Reports on Form
10-K, as may be supplemented or amended by the Company's Quarterly
Reports on Form 10-Q. The Company assumes no obligation to update
or supplement forward-looking statements that become untrue because
of subsequent events, new information or otherwise.
About Marathon Digital
Holdings Marathon is a digital asset technology
company that focuses on supporting and securing the Bitcoin
ecosystem. The Company is currently in the process of becoming one
of the largest and most sustainably powered Bitcoin mining
operations in North America, while remaining asset light.
Marathon Digital
Holdings Company Contact: Telephone:
800-804-1690Email: ir@mara.com
Marathon Digital (NASDAQ:MARA)
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