2024

Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/marathon-digital-continues-bitcoin-sales-amid-record-production/" data-wpel-link="internal">Marathon Digital Continues Bitcoin Sales Amid Record Production</a> 
Marathon Digital Holdings, Inc. continues its <a href="https://en.coin-turk.com/bitcoin-price-analysis-expert-predictions-and-current-market-outlook/" data-wpel-link="internal">Bitcoin</a> sales. The company is preparing for another Bitcoin (BTC) sale after selling 704 units in December, which equated to 38% of the BTC obtained that month to cover operating expenses. Holding 15,174 BTC and a substantial cash reserve, the company continues to focus on increasing liquidity in anticipation of the next Bitcoin network halving. 
<h2 style="text-align: justify" id="marathon-s-december-btc-production">Marathon’s December BTC Production</h2> 
The company recently made an announcement. According to the statement, a record BTC production was achieved in December with a total of 1,853 BTC mined. This represents a significant increase of 56% compared to November 2023 and, more importantly, a striking year-over-year increase of 290%. 
Despite the revenues generated, high expenses forced the company to sell. In December 2023, a sale of 704 BTC was carried out to cover the emerging expenses of the <a href="https://newslinker.co/category/business/" data-wpel-link="exclude">business</a>. 
Considering the average BTC closing price of $42,546 in December 2023, it can be said that the sale amounted to less than $30 million. 
Preparations for a new BTC sale by Marathon are ongoing. Information has emerged about new purchases to be made in January 2024 for approximately $178.6 million from Generate Capital. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-298242" src="https://coin-turk.com/wp-content/uploads/2024/01/marathon-digital-coin-turk-com.jpeg" alt="" width="1200" height="627"> 
Marathon CEO Fred Thiel provided a brief overview of the company’s vision for 2024. The CEO mentioned a target of a 30% growth in energized hash rate and an aim to reach 50 exahash within the next 18 to 24 months. 
Additionally, a noticeable increase was observed in the transaction fee collections in Marathon’s MaraPool. 
In December 2023, MaraPool attracted attention by collecting transaction fees amounting to over 380 BTC, which corresponds to 22% of the BTC production. 
<h2 style="text-align: justify" id="current-bitcoin-price-situation">Current Bitcoin Price Situation</h2> 
Since January 1, 2024, the Bitcoin price has increased by 9% and rose to $45,950 before falling back below the $43,000 level. BTC then recovered during today’s trading following a decline caused by a statement from Maxiport. 
As of the writing time on Thursday, January 4, 2024, BTC is trading at $43,900, indicating an increase of 2.40% in the last 24 hours. 
At the time of writing, BTC’s market value is at $863 billion, reflecting an increase of 2.44%. Additionally, BTC’s 24-hour trading volume has decreased by 29.67% to $31.86 billion. Following the recent recovery, the one-month gain has reached approximately 5%. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/marathon-digital-continues-bitcoin-sales-amid-record-production/" data-wpel-link="internal">Marathon Digital Continues Bitcoin Sales Amid Record Production</a></h5>

Marathon Digital Continues Bitcoin Sales Amid Record Production

Table of Contents

COINTURK NEWS

Other articles published on Jan 4, 2024

$100B Crypto Market Washout Was Normal Activity, Say Analysts

ARK Invest sells another $25m worth of Coinbase shares

Giant Whale Sold All of Its Rapidly Recovering Arbitrums (ARB) and Bought This Altcoin Instead!

AI predicts Shiba Inu (SHIB) price for the end of 2025

Goldman’s McDermott Predicts Mature Digital Assets Future in 2024

Ethereum falls behind Bitcoin in NFT sales again, details here

Join our free newsletter for daily crypto updates!