% 0.16
BTC Dominance:
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
$ 64.274
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Marathon Digital Reports Strong Q1 2024, Mined 2,811 Bitcoin

Bitcoin, Btc, Bitcoin Dominance, Btc Halving

Marathon Digital, a Bitcoin mining company based in the United States, has also released its quarterly figures. The company mined 2,811 Bitcoin worth $176 million in the first three months of 2024. The company, which has $1.6 billion in liquidity, stated that it also holds Bitcoin in this amount.

Marathon Digital Achieves 337% Profit Increase

Marathon Digital, a US-based Bitcoin mining company that was recently appointed by the Kenyan government as a consultant on cryptocurrencies and mining, made a profit of $337 million in the first quarter.

According to the announced earnings report figures, Marathon, which mined 2,811 Bitcoin as of the first quarter of 2024, also increased its profit by 184% compared to the same period of the previous year. The company’s revenue also increased by 223% compared to the first quarter of 2023.

The statement said, “With our recent acquisitions, orders and $1.6 billion in liquidity, we are targeting a hash rate of 50 exahash by the end of 2024.”

1/4 of Bitcoin Sold

Marathon Digital also announced that it sold a quarter of the mined Bitcoin to cover operational costs. The company’s $1.6 billion capital includes cash, cash equivalents and Bitcoin.

Rate this post
READ:  MicroStrategy Holds 13.6 Billion Dollar Worth of Bitcoin

Leave a Reply

Your email address will not be published. Required fields are marked *