The stock of Marathon Digital Holdings Inc. (NASDAQ: MARA) is rising after publishing an update for the last month, currently trading at $12.60 up 7.83%. There were 9.07 million shares traded, which is lower than the 19.25 million average volume over the last three months.
MARA has provided which update?
Marathon Digital (MARA), the bitcoin ecosystem’s leader, published its unaudited August 2022 Bitcoin (“BTC”) production updates.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Highlights from August 2022:
- Following the successful energization of approximately 25,000 miners (c. 2.5 EH/s) in August, the operating mining fleet consists of approximately 34,000 active miners, producing approximately 3.2 EH/s.
- Over the next 90 days, approximately 65,000 additional miners will be energized (c. 6.9 EH/s).
- By August 31, 2022, the company had produced 2,222 Bitcoin, a 26% increase over the same period in the previous year.
- S19XPs set to ship in September will benefit from a downward market price adjustment; price adjustments are expected to continue through October and December.
- According to August 31, 2022, total bitcoin holdings were 10,311 BTC valued at $206.7 million
- The fair market value of unrestricted bitcoin holdings was approximately $130.0 million.
- According to the August 31, 2022, financial report, the company had approximately $71.4 million in unrestricted cash on hand
Updates on Miner Energization and Installation:
- Marathon successfully energized and brought online approximately 25,000 of its previously installed miners in August.
- Consequently, on August 31, 2022, the Company’s hash rate was 3.2 EH/s.
- Currently, Marathon expects to bring online approximately 65,000 additional miners over the next 90 days, corresponding to approximately 6.9 EH/s of capacity.
- Furthermore, these reports continue to indicate that the Company will have enough miners in place to generate approximately 23 EH/s by the middle of the fiscal year 2023.
- The S19 XPs, which are approximately 30% more energy efficient than previous generations, are expected to generate approximately 66% of Marathon’s hash rate once all previously purchased miners are installed.
- Due to this, Marathon’s Bitcoin mining operations will, once fully operational, be among the largest and most energy-efficient.
How has MARA performed?
The hash rate of Marathon Digital (MARA) returned to approximately 3.2 exahashes per second with approximately 34,000 miners operating as of August 31, after approximately 25,000 newly installed miners were successfully energized. This resulted in 184 BTC being produced in August.
