Bitcoin Mining Raises Marathon Digital’s BTC Holds To $457M

The large American-based bitcoin self-mining company, Marathon Digital Holdings, reported an increase of total BTC holdings on its October update of the company’s bitcoin production and mining operations. In October, the company increased its total bitcoin holdings to around 7,453 BTC after mining 417.7 bitcoins. This translates to $457.4 million of market value, and their total liquidity now reaches approximately $478.3 million. The company has been ‘hodling’ the totality of its mined and bought bitcoins since October 2020, taking into account 4,812.66 BTC purchased past January at the price of $31,168 per BTC. Related Reading | Marathon Digital Holdings Reported A 17% Spike In Bitcoin Mining Furthermore, after buying $120,7 million of mining machines from Bitmain, they received a shipment of roughly 42,381 top-tier ASIC miners, “with 12,331 delivered to a Compute North facility” pending deployment “and an additional 3,285 ASIC miners currently in transit”. They currently have 27,280 active miners on their fleet, resulting in a production of 2.96 EH/s. While deliveries of miners may continue to fluctuate in the near-term, based on current estimates, the Company still anticipates all previously purchased miners to be delivered by mid-2022. Once all miners are fully installed, the Company’s mining fleet is expected to consist of approximately 133,000 miners, generating approximately 13.3 EH/s. Their MaraPool, w...