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In the first quarter of 2022, the American mining company Marathon Digital Holdings mined 1258.6 BTC. This is 556% more than in the same period of the previous year.
$MARA’s March 2022 #Bitcoin Production Update
— Record 1,259 #BTC in Q1 2022, ⬆️ 566% y-o-y & ⬆️ 15% from Q4 2021
— Total BTC holdings = 9,374 BTC #HODL
— Hash rate ⬆️ 14% from Q4 2021
— Miners expected to be energized in the coming weekshttps://t.co/6D7QS4ZhGM
— Marathon Digital Holdings (@MarathonDH) April 4, 2022
As part of the strategy of accumulating mined cryptocurrency, the firm increased its reserves to 9373.6 BTC. This amount includes 4,813 BTC purchased in January 2021 at an average price of $31,168.
Marathon last sold digital gold in October 2020.
As of March 31, the company’s hashrate reached approximately 3.9 EH/s, up 15% QoQ. In its last month alone, Marathon received about 5,600 Antminer S19 ASIC miners from Bitmain, completing a deployment of 1,320 units.
The total fleet of operating equipment amounted to 36,830 miners.
Marathon confirmed plans to increase the hash rate to 23.3 EH/s by early 2023, deploying approximately 199,000 ASIC devices. However, it was recognized that their implementation was behind schedule by about 45 days.
The CEO of the company, Fred Thiel, explained this by the difficulties that arise in the implementation of the company’s policy of fully transitioning to carbon-neutral mining before the end of the year. They are connected with the need to ensure a stable energy supply, which requires coordination of the parties and additional permits.
“Behind the meter deployment in renewable energy facilities has many benefits for our business, network and local communities. But this innovative approach comes with unique challenges that we had to overcome: in particular, feeding electricity from the grid back to the power plant on a large scale,” he said.
After receiving full approval in late March, miner installation at Compute North’s new west Texas facilities is proceeding at an “accelerated pace,” according to a press release.
Marathon also announced that it will cease operations by the end of 2022 at its data center in Hardin, Montana, which is powered by a coal-fired power plant.
We’re going green 🌱#Bitcoin #RenewableEnergy https://t.co/TredpHIfXN
— Marathon Digital Holdings (@MarathonDH) April 5, 2022
Recall that in August 2021, the United States became the leader in terms of the share in the bitcoin hash rate, displacing China, which banned mining.
According to Arcane Research, in 2022, American miners will further increase their market share.
#Marathon #mined #BTC #quarter