Bitcoin

In a remarkable display of growth, <a href="https://ultramining.com/news/marathon-digital-povyshaet-energoeffektivnost-s-pomoshhyu-majnerov-s19-xp/" rel="noopener noreferrer nofollow">Marathon Digital Holdings</a> (NASDAQ: MARA) disclosed their financial and operational strides in a recent update. The company revealed a surge in their Bitcoin <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a> and a robust financial foothold in August 2023. This update reflects not just their performance for the month but also unveils a progressive trend seen over the year. 
Firstly, the company managed to secure miners for an additional 5 EH/s <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a>, amplifying its <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a> capacity significantly. In August alone, <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/" rel="noopener noreferrer nofollow">Marathon</a> produced a whopping 1,072 BTC, accumulating to 7,368 BTC year-to-date. However, it's worth noting a 9% decrease from the previous month. CEO Fred Thiel attributed this slight dip to increased curtailment activities in <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">Texas</a>, a setback dwarfed by their fivefold surge in <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a> compared to last August. 
Furthermore, despite minor hiccups, the operational <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> experienced a 2% increment in the <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/" rel="noopener noreferrer nofollow">U.S.</a>, reaching 19.1 exahashes. The installation rate also witnessed a 1% bump, accumulating to 23.1 exahashes. This boost primarily results from the replacement of <a href="https://ultramining.com/news/en/antminer-unveils-revolutionary-x5-the-first-professional-xmr-miner-alongside-exciting-price-guessing-campaign/" rel="noopener noreferrer nofollow">BITMAIN</a> S19 J Pro miners with the more efficient S19 XPs. 
Subsequently, <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/" rel="noopener noreferrer nofollow">Marathon</a> is eagerly anticipating the activation of their facility in Garden City, <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">Texas</a>, a venture believed to be nearing its completion phase. Concurrently, a joint venture in Abu Dhabi, initiated in July, contributed 50 BTC to August's mining yield. Thiel expressed optimism regarding the venture, foreseeing its full operational capacity of 7.0 exahashes to materialize before the end of 2023. 
Notably, the financial highlights reflect a robust stance with a total holding of 13,286 BTC as of August 31. Despite the sale of 750 BTC in August to fuel monthly operations and manage its treasury, the firm showcased a notable uptick in their unrestricted BTC holdings. The combined assets of <a href="https://ultramining.com/news/en/marathon-digital-holdings-powers-up-bitcoin-production-and-mining-operations/" rel="noopener noreferrer nofollow">unrestricted cash</a> and Bitcoin stood at an impressive $445 million as of August end, marking a substantial elevation compared to the same period last year. 
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Marathon’s August Report Reveals a Quintuple Year-Over-Year Surge in Bitcoin Mining

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