Marathon Digital produced 1,187 bitcoin in November

Marathon Digital published unaudited bitcoin production and miner installation updates for November 2023. Management Commentary: “In November, we increased our domestic energized hash rate 20% to 23.1 exahashes as energization of the facility in Garden City, Texas is complete,” said Fred Thiel, Marathon’s chairman and CEO. “We have now reached our 23 exahash goal and extended our lead as the largest bitcoin miner in North America. Outside the US, we made further progress in Abu Dhabi where we now have 2.5 exahashes online. This total includes 10,000 rigs energized at our second, larger facility in Masdar City, and the remaining 4.6 exahashes are expected to be online by January 2024. Our new joint venture in Paraguay also started up in November with 1,170 miners energized representing 0.2 exahash. The full 1.1 exahashes are expected to be online by early Q2 2024. With our increasing hash rate and continued efficiency gains, we produced 1,187 bitcoin in November, down 1% from October against a 9% sequential increase in network difficulty. This total includes 33 bitcoin from our 20% share of the JV in Abu Dhabi and 3.5 bitcoin from our 80% share of the JV in Paraguay. In the US, we mined 1,151 bitcoin in November which includes approximately 135 bitcoin or 12.0% of the total from transaction fees due to increased network activity.”