- Annual Bitcoin Production Increases 846% Year-over-Year to 3,197 BTC in 2021
- Monthly Bitcoin Production Increases 147% Month-over-Month to a Record 484.5 BTC as Total Bitcoin Holdings Increase to 8,133 BTC
- Record Order for BITMAIN’S S19 XPs To Expand Marathon’s
Mining Fleet to Approximately 199,000 Bitcoin Miners Producing 23.3 EH/s by Early 2023
Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change)
Corporate Highlights as of
- Produced approximately 3,197 self-mined bitcoin in fiscal year 2021, an 846% increase year-over-year
- Produced 1,098 self-mined bitcoin during Q4 2021, including a record 484.5 self-mined bitcoin during
December 2021 - Increased total bitcoin holdings to approximately 8,133 BTC with a fair market value of approximately
$375.8 million - Cash on hand was approximately
$268.5 million and total liquidity, defined as cash and bitcoin holdings, was approximately$644.3 million - Received approximately 10,365 top-tier ASIC miners from BITMAIN during the month of December and 72,495 miners in 2021 with an additional 10,907 miners currently in transit
- Continued installing miners at various facilities operated by Compute North as construction of new mining facilities progresses
- Existing mining fleet consists of 32,350 active miners producing approximately 3.5 EH/s
- In December, purchased a record number of ANTMINER S19 XP (140 TH/s) bitcoin miners from BITMAIN, increasing Marathon’s total mining fleet to approximately 199,000 bitcoin miners producing approximately 23.3 EH/s by early 2023
Bitcoin Production Update
Marathon’s mining fleet produced approximately 3,197 self-mined bitcoin during 2021, an 846% increase from approximately 338 self-mined bitcoin during 2020. By month, the Company’s bitcoin production was as follows:
*Note: Upgrades and maintenance to the power generating station in
Total Network Hash Rate Source: https://www.blockchain.com/charts/hash-rate
The Company last sold bitcoin on
Miner Installations and Hash Rate Growth
During fiscal year 2021, Marathon successfully deployed 30,391 top-tier bitcoin miners and completed the construction of its mining facility in
Marathon is continuing to work with Compute North to deploy miners at Compute North’s existing facilities as well as at new locations that are “behind the meter” at wind and solar farms operated by one of the largest renewable energy power providers in
On
Management Commentary
“2021 was a transformative year for Marathon as we increased our hash rate 1,790% and increased our bitcoin production 846% year-over-year to 3,197 self-mined BTC,” said
“We are starting 2022 with substantial momentum and a clear path to grow throughout this year and beyond. Today, we have access to top-tier hosting and renewable power, a strong balance sheet with
Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
About
Marathon is a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets.
Marathon Digital Holdings Company Contact:
Telephone: 800-804-1690
Email: charlie@marathondh.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/686080cd-1160-40fd-a544-bb1527bfa675
https://www.globenewswire.com/NewsRoom/AttachmentNg/cad6444f-8de8-43db-a3ef-11dec335d11f
![](https://ml.globenewswire.com/media/YzVkYzUwMWItYjA1Yi00Y2I1LWEyYTAtZTdmNjgxMjJkODdmLTEwOTI1ODk=/tiny/Marathon-Digital-Holdings-Inc-.png)
Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change)
![](https://ml.globenewswire.com/media/686080cd-1160-40fd-a544-bb1527bfa675/medium/historical-and-potential-hash-rate-growth-based-on-current-s.png)
Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change)
Total Network Hash Rate
![](https://ml.globenewswire.com/media/cad6444f-8de8-43db-a3ef-11dec335d11f/medium/total-network-hash-rate.png)
Total Network Hash Rate
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