NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

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

Julia Arvelaiz
Julia Arvelaiz
1 year ago
3 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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, which is fully audited and focuses on lowering BTC mining’s environmental impact, reached 3.0 EH/s with a network hash rate of 170.9 EH/s. Fred Thiel, Marathon’s CEO, stated:

In addition to improving our bitcoin production, MaraPool reached 3.0 EH/s, and we began sending our first batches of miners to one of Compute North’s facilities. We also began chartering planes in October to expedite the delivery of our miners and to mitigate the adverse effects of global logistics issues on our growth. By chartering planes, we decreased the average time it took for miners to be shipped and delivered by approximately 50% from September to October.

Bitcoin
Source: Marathon Digital Holdings

Big Horizons For Bitcoin Mining In The U.S.

Last month, the company secured a $100 million yearly renewable loan with Silvergate Bank to fund their mining operations and equipment. They currently expect more growth during the fourth quarter, said Fred Thiel:

Given the number of miners expected to ship and the steps we have taken to prepare for their deployment, we believe that the fourth quarter will be a transformative time for our business, and we look forward to continuing to scale our mining operations.

Back in May, the company had accounted for its plan to transition into the first mining pool to produce “100% carbon neutral and OFAC compliant bitcoins”, as well as its agreement with Compute North, who offers a large-scale service provider with “environmentally friendly hosting and infrastructure”.

The partnership is meant to help them achieve their goals by allowing them to operate their mining fleet “in regulatory environments that have proven to be friendly to Bitcoin miners and at rates that we believe are among the lowest in the country.”

As in prior months, our bitcoin production was impacted by maintenance-related outages at the power plant in Hardin, MT, and increases in the total network hash rate. However, with shipments of our previously purchased miners accelerating over the coming months, we continue to expect our bitcoin production to become more consistent as we scale.

 Related Reading | How Governments Mining Bitcoin Could De-Risk Cryptocurrency

Bitcoin
Bitcoin price at $62,485 in the daily chart | Source: BTCUSD TradingView
Tweet123Share196ShareSend
Julia Arvelaiz
Julia Arvelaiz

Julia Arvelaiz

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

AVAX

AVAX Ready For Range Breakout – Bulls Eye $36 Price Target

Avalanche (AVAX) prices are up 6.59% in the past 24 hours amidst a general crypto price rebound. The prominent altcoin...

Semilore Faleti 7 hours ago
Bitcoin price

Bitcoin Price Holds Above $115,000 — Here’s Why This Level Is Significant

After surging to a record high around $123,000 in the second week of July, the Bitcoin price action for the...

Opeyemi Sule 8 hours ago
Ripple

Ripple CEO Sounds Alarm: If You’re An XRP Investor, You Should See This

Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse, has issued a serious warning to XRP investors amid a surge in scam...

Scott Matherson 10 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Beste altcoins met 1000x potentie – deze 3 crypto's kunnen exploderen

Beste altcoins met 1000x potentie – deze 3 crypto’s kunnen exploderen

Lars Diederiksen 19 minutes ago
AI crypto coins, artificial intelligence, beste crypto om nu te kopen

Beste AI coins om nu te kopen – top 3 artificial intelligence crypto’s

Lars Diederiksen 1 hour ago
Bitcoin price

Bitcoin Price Could Still Tumble Down To $109,000 — This Chart Pattern Suggests So

Opeyemi Sule 5 hours ago

Premium Sponsors

Press Releases

  • Earn $9,141 a day with mobile mining! ETHRANSACTION Smart...

    13 hours ago
  • イーサリアムの価格が3,700ドル付近で横ばい、次の注目銘柄はこのico 仮想通貨プロジェクトか?大型チャンスの予感

    ...

    17 hours ago
  • 次の100倍を狙えるミームコインを見逃すな?話題の取引ボット連動型トークンがそのチャンスかも

    ...

    17 hours ago
  • FTXが9月も返金を継続:弱気相場に備える仮想通貨プレセール3選

    ...

    17 hours ago
  • 暗号資産価格暴落によるパニック売りの中で注目される新しい仮想通貨の買い時とは

    ...

    17 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.