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Miner Marathon Digital Sold 650 Bitcoins Last Month to Cover Costs

ByLouis Adams

Mar 6, 2023 #Bitcoin, #mining
Reading time: < 1 minute

Marathon Digital sold 650 BTC in February in order to cover part of its costs; however, their holdings increased from 8,090 BTC as of January 31, 2023 to 8,260 BTC worth $191.2 million as of February 28, 2023.

The company holds 11,392 BTC in total and mined 683 BTC in February, resulting in a hash rate of 9.5 EH/s.

During the month, Marathon launched almost 19,000 mining rigs, 8,000 of which were Bitmain S19 XP models, which are expected to generate 66% of the company’s hashrate in the future.

The company CEO Fred Thiel has noted that the main challenge this year is to activate more miners and optimize the performance of the company’s fleet, aiming to reach the 23 EH/s compute power milestone by mid-2023.