Marathon Digital produced 1,242 bitcoin in September

Marathon Digital published unaudited bitcoin production and miner installation updates for September 2023. “We produced 1,242 bitcoin in September, which is a 16% increase from last month and a 245% increase from September of last year,” said Fred Thiel, Marathon’s chairman and CEO. “The increase in bitcoin production from August was due to improved uptime and decreased curtailment activity in Texas. In September, our share of the bitcoin network’s available miner rewards was a record 4.3%, up from 3.7% last month and the previous record of 4.1% in July 2023. Energization of the facility in Garden City, Texas is still pending. However, based on the latest updates, we believe the facility will start to come online this month. While our hosting provider completes the final steps to energize the site, the Marathon team has focused on increasing uptime at our other locations, especially in McCamey, Texas. By upgrading equipment, leveraging our proprietary firmware, and making other technical improvements, we increased our U.S. average operational hash rate 20% month-over-month to 15.8 exahashes. We believe there is still room for improvement at our McCamey site, and we are working with our hosting provider to further increase uptime. Outside the US, our joint venture in Abu Dhabi mined 50 bitcoin in September of which approximately 10 bitcoin is our share. Construction is nearly complete at our second, larger site, and we continue to expect the project’s full 7.0 exahashes to be online before year-end 2023.”