Bitcoin

<a href="https://ultramining.com/news/marathon-digital-povyshaet-energoeffektivnost-s-pomoshhyu-majnerov-s19-xp/">Marathon Digital Holdings</a>, a prominent player in the Bitcoin ecosystem, announced a notable uptick in its Bitcoin <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/">production</a> for September 2023. Last month, the company generated 1,242 bitcoins, marking a 16% rise from August and a staggering 245% jump year-over-year. The surge in <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/">production</a> is attributed to improved operations and fewer interruptions in <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">Texas</a>, with <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a>'s share of available bitcoin network rewards reaching a record 4.3%, according to <a href="https://ir.mara.com/news-events/press-releases/detail/1327/marathon-digital-holdings-announces-bitcoin-production-and">mara</a>. 
Anticipating the activation of their Garden City, <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">Texas</a> facility, Marathon's team has concentrated efforts in enhancing performance at other locations, particularly in McCamey, Texas. Through equipment upgrades and technical enhancements, the company witnessed a 20% rise in their <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/">U.S.</a> operational <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/">hash rate</a>. Overseas, their joint venture in Abu Dhabi produced 50 bitcoins, with Marathon's share totaling 10. A more expansive project in the region is nearing completion, with an expected contribution of 7.0 exahashes by the end of 2023. 
Financially, Marathon made strategic moves to bolster shareholder value, retiring most of its convertible debt and prepping for possible market fluctuations in the coming Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/">halving</a>. The firm also shed light on its growth strategy, revealing that after achieving their domestic growth target, the hunt is on for opportunities to add another 5 exahashes of capacity. These plans, which include potential sites offering renewable energy, will be detailed in the coming weeks. 
They also shared financial insights, noting that by the end of September, their <a href="https://ultramining.com/news/en/rising-mining-difficulty-squeezes-bitcoin-miners-sparks-accumulation-among-whales/">Bitcoin holdings</a> stood at 13,726. To optimize their financial stance, Marathon hedged 1,000 bitcoins in September, and sold 800 bitcoins to support various operational and corporate needs. The combination of cash and Bitcoin assets totaled a robust $471.2 million, illustrating a commendable financial growth trajectory.

Marathon Digital Holdings Boosts Bitcoin Production in September 2023

Ultramining_Eng

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