Marathon Digital Holdings, a leader in supporting and securing the Bitcoin ecosystem, has announced its Bitcoin production and mining operation updates for November 2023. The company produced 1,187 Bitcoins in November, bringing its total unrestricted Bitcoin holdings to 14,025.
The company’s operational hash rate has been increasing, and it has been making significant strides in its mining operations. Marathon Digital Holdings has been focusing on improving the efficiency of its mining operations with new technologies. The company has been proactive in strengthening its liquidity position and has been working on optimizing curtailment strategies and site operations.
Fred Thiel, the CEO and Chairman of Marathon announced that they have successfully increased their domestic energized hash rate by 20% to 23.1 exahashes in November. This significant increase was possible due to the completion of the energization process at their facility in Garden City, Texas. With this achievement, Marathon has not only reached its target of 23 exahashes but also solidified its position as the leading Bitcoin miner in North America.
Marathon Digital Holdings Improved its Mining Efficiency
The company has seen a rise in its hash rate and continuous efficiency improvements, resulting in the production of 1,187 Bitcoins in November. This is a slight decrease of 1% from October, despite a 9% sequential increase in network difficulty.
The total includes 33 Bitcoins from their 20% share of the joint venture in Abu Dhabi and 3.5 Bitcoins from their 80% share of the joint venture in Paraguay. In the United States, they mined 1,151 Bitcoins in November, which includes approximately 135 Bitcoins or 12.0% of the total transaction fees due to increased network activity.
Marathon Digital Holdings’ commitment to supporting and securing the Bitcoin ecosystem is evident in its efforts to increase its operational hash rate and improve the efficiency of its mining operations. With its increasing Bitcoin production and mining operation updates, the company continues to establish itself as a significant player in the Bitcoin mining industry.
