LAS VEGAS, July 02, 2021 (GLOBE NEWSWIRE) — Marathon Digital Holdings, Inc. (NASDAQ:MARA) (“Marathon” or “Firm”), one of many largest enterprise Bitcoin self-mining corporations in North America, right now printed unaudited bitcoin (“BTC”) manufacturing and miner set up updates for June 2021.
Company Highlights as of July 1, 2021
- Produced 265.6 new minted bitcoins throughout June 2021, growing complete bitcoin holdings to roughly 5,784 with a good market worth of roughly $201.6 million
- Money readily available was roughly $170.6 million and complete liquidity, outlined as money and bitcoin holdings, was roughly $372.2 million
- Obtained roughly 18,702 S-19 Professional ASIC miners from Bitmain yr to this point with an extra 1,056 S-19 Professional ASIC miners presently in transit
- Elevated lively mining fleet to roughly 19,395 miners, producing roughly 2.09 EH/s
- Accomplished development of the containers that home mining rigs on the Firm’s mining facility in Hardin, MT
Bitcoin Manufacturing Replace
As of July 1, 2021, Marathon’s mining fleet has produced roughly 846 newly minted bitcoins throughout 2021. By month, the Firm’s bitcoin manufacturing was as follows:
- January 2021: 50.4 BTC
- February 2021: 43.4 BTC
- March 2021: 97.9 BTC
- April 2021: 162.1 BTC
- Might 2021: 226.6 BTC
- June 2021: 265.6 BTC
In consequence, Marathon presently holds roughly 5,784 BTC, together with the 4,812.66 BTC the Firm bought in January 2021 for a mean value of $31,168 per BTC. On July 1, 2021, the honest market worth of 1 bitcoin was roughly $34,855, implying that the approximate honest market worth of Marathon’s present bitcoin holdings is roughly $201.6 million.
Miner Installations and Hashrate Development
Throughout June, Marathon accomplished development of the remaining containers which is able to home roughly two-thirds the Firm’s mining rigs at its facility at Hardin, MT. The steadiness of the miners shall be housed in a brand new construction presently beneath development. All containers at Hardin have been constructed out and are able to obtain new miners in line with beforehand launched supply schedules of 1,800 in July, 7,000 in August and the ultimate tranche of roughly 3,200 in September, after which, the Firm will begin putting in its remaining 73,000 miners at a brand new 300-megawatt facility in Texas, hosted by Compute North.
As of July 1, 2021, Bitmain has delivered roughly 18,702 S-19 Professional ASIC miners to the Firm’s mining facility in Hardin, MT, all of which have been delivered on time and as scheduled. In the course of the month of June, Marathon put in 1,740 new miners, growing the Firm’s lively mining fleet to roughly 19,395 miners, producing roughly 2.09 EH/s.
New miners proceed to be put in each day. Based mostly on present supply and set up schedules, Marathon continues to anticipate all beforehand bought miners to be absolutely put in by the tip of the primary quarter of 2022, at which level, the Firm’s mining fleet will consist of roughly 103,120 miners, producing roughly 10.37 EH/s.
As of June 30, 2021, 1,056 miners have been obtained or are in transit, with the steadiness anticipated in July because of international logistics delays. Future deliveries are anticipated as initially scheduled.
“In June, we produced 265.6 bitcoins, which is a 17% enhance from the 226.6 bitcoins we produced in Might, and we elevated our hashrate to 2.09 EH/s after putting in one other 1,740 miners,” mentioned Fred Thiel, Marathon’s CEO. “We additionally accomplished constructing and making ready the remaining containers which is able to home our mining rigs in Hardin, MT. In consequence, we’re properly positioned to obtain and set up the remaining miners at Hardin earlier than turning our consideration to the brand new facility in Texas, which is able to home nearly all of our miners and which shall be 100% carbon impartial.
“Might, June, and July are slower supply months as nearly all of our miners are anticipated to be delivered this fall. We’re due to this fact making the most of this chance to proactively carry out upkeep and upgrades on a portion of our present containers and techniques earlier than supply schedules speed up and to arrange for the anticipated lower in international hashrate. These preparatory actions resulted in a few of our miners being offline throughout June, briefly reducing our hashrate. Nevertheless, we nonetheless elevated our bitcoin manufacturing month over month, and we are actually higher ready to obtain the massive upcoming shipments and make the most of anticipated favorable mining situations.
“Given our present supply schedule and the macro occasions affecting the worldwide community hashrate, Marathon stays notably properly positioned to scale and thrive within the present mining atmosphere.”
Investing in our securities includes a excessive diploma of danger. Earlier than investing resolution, you need to fastidiously take into account the dangers, uncertainties and forward-looking statements described beneath “Danger Elements” in Merchandise 1A of our most up-to-date Annual Report on Type 10-Ok for the fiscal yr ended December 31, 2020. If any of those dangers have been to happen, our enterprise, monetary situation or outcomes of operations would possible undergo. In that occasion, the worth of our securities may decline, and you would lose half or your entire funding. The dangers and uncertainties we describe are usually not the one ones going through us. Extra dangers not presently recognized to us or that we presently deem immaterial can also impair our enterprise operations. As well as, our previous monetary efficiency might not be a dependable indicator of future efficiency, and historic tendencies shouldn’t be used to anticipate outcomes sooner or later. Future adjustments within the network-wide mining problem fee or Bitcoin hashrate can also materially have an effect on the long run efficiency of Marathon’s manufacturing of Bitcoin. Moreover, all discussions of monetary metrics assume mining problem charges as of July 2021. See “Secure Harbor” beneath.
Statements made on this press launch embrace forward-looking statements inside the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Trade Act of 1934. Ahead-looking statements may be recognized by means of phrases equivalent to “could,” “will,” “plan,” “ought to,” “anticipate,” “anticipate,” “estimate,” “proceed,” or comparable terminology. Such forward-looking statements are inherently topic to sure dangers, tendencies and uncertainties, a lot of which the Firm can’t predict with accuracy and a few of which the Firm won’t even anticipate and contain components which will trigger precise outcomes to vary materially from these projected or urged. Readers are cautioned to not place undue reliance on these forward-looking statements and are suggested to think about the components listed above along with the extra components beneath the heading “Danger Elements” within the Firm’s Annual Reviews on Type 10-Ok, as could also be supplemented or amended by the Firm’s Quarterly Reviews on Type 10-Q. The Firm assumes no obligation to replace or complement forward-looking statements that turn out to be unfaithful due to subsequent occasions, new data or in any other case.
About Marathon Digital Holdings
Marathon is a digital asset know-how firm that mines cryptocurrencies with a concentrate on the blockchain ecosystem and the era of digital belongings.
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