Bitcoin

<a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/" rel="noopener noreferrer nofollow">Marathon</a> Digital Holdings, Inc. (NASDAQ: MARA), a leader in Bitcoin mining, announced significant operational achievements in November 2023. The company reached a remarkable <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> of 23.1 exahashes, following the full energization of its 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>. This achievement marks Marathon as the largest Bitcoin miner in North America, according to <a href="https://ir.mara.com/news-events/press-releases/detail/1334/marathon-digital-holdings-announces-bitcoin-production-and" rel="noopener noreferrer nofollow">Mara</a>.
In its international operations, Marathon has made progress in Abu Dhabi, where it now has 2.5 exahashes online, including 10,000 rigs at its larger facility in Masdar City. Additionally, a new joint venture in <a href="https://ultramining.com/news/en/bitfarms-expands-bitcoin-mining-with-renewable-energy-in-paraguay/" rel="noopener noreferrer nofollow">Paraguay</a> began operations in November with 1,170 miners, contributing 0.2 exahash to the company's capacity.&nbsp;
Marathon produced 1,187 Bitcoin in November, a slight decrease from October'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">production</a>, amid a 9% increase in network difficulty. This figure includes contributions from its joint ventures in Abu Dhabi and Paraguay. Notably, in the <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/" rel="noopener noreferrer nofollow">US</a>, Marathon mined 1,151 Bitcoin, with approximately 135 Bitcoin, or 12% of the total, derived from transaction fees due to increased network activity.
Financially, Marathon has been strategic in managing its assets. As of November 30, the company held 14,025 unrestricted BTC and $273.1 million in cash and equivalents. To cover operating expenses, Marathon sold 700 BTC, or 59% of its monthly production. This move is part of its strategy to support monthly operations and manage its treasury effectively.
Marathon continues to innovate in lowering power costs and enhancing sustainable energy usage. The company's landfill pilot in Utah, powered by waste methane gas, boasts a cost per coin below $10,000. Additionally, the Paraguay joint venture, entirely powered by hydroelectricity, enjoys power costs below $0.04 per kilowatt hour.
Marathon Digital Holdings' recent developments reflect its commitment to efficiency, sustainability, and growth in the Bitcoin mining industry.&nbsp;

Marathon Digital Holdings Hits New Milestones in Bitcoin Mining

Ultramining_Eng

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