Seeking Alpha
2021-12-03 13:58:16

Marathon Digital reports bitcoin holdings worth $437.4M

Marathon Digital's (NASDAQ:MARA) mining fleet produced ~2,712.3 self-mined bitcoin during 2021, as of Dec.1, 2021. Monthly bitcoin production chart looks as follows: The company reported cash on hand of ~$623.7M and total liquidity, defined as cash and bitcoin holdings, was ~$1.1B. During November, the company received ~15,520 top-tier ASIC miners from Bitmain and 56,826 miners YTD with an additional 8,477 miners currently in transit. It fully completed miner installations at MARA's facility in Hardin, MT, as well as scheduled upgrades and maintenance to the power generating facility in Hardin, MT. Based on current construction schedules, Marathon expects to begin deploying miners at Compute North's new facilities commencing in 1Q22. The company increased total bitcoin holdings to ~7,649.1 with a fair market value of ~$437.4M; its existing mining fleet consists of 31K active miners producing ~3.2 EH/s. Marathon last sold bitcoin on Oct.21, 2020 and since then it has been accumulating or holding all bitcoin generated.

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