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Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change)
Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change)
Total Network Hash Rate
Total Network Hash Rate
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Annual Bitcoin Production Increases 846% Year- over-Year to 3,197 BTC in 2021
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Monthly Bitcoin Production Increases 147% Month- over-Month to a Record 484.5 BTC as Total Bitcoin Holdings Increase to 8,133 BTC
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Record Order for BITMAIN’S S19 XPs To Expand Marathon’s Mining Fleet to Approximately 199,000 Bitcoin Miners Producing 23.3 EH/s by Early 2023
LAS VEGAS,Jan 03, 2022 (GLOBE NEWSWIRE)– Marathon Digital Holdings, Inc. (NASDAQ: MARA) (“Marathon” or “Company”), among the biggest business Bitcoin self-mining business in North America, today released unaudited bitcoin (“BTC”) production and miner setup updates for December 2021.
Historical and Potential Hash Rate Growth Based on Current Shipment Schedules of Previously Purchased Miners (Subject to Change)
Corporate Highlights since January 1, 2022
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Produced roughly 3,197 self-mined bitcoin in 2021, an 846% boost year-over-year
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Produced 1,098 self-mined bitcoin throughout Q4 2021, consisting of a record 484.5 self-mined bitcoin throughout December 2021
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Increased overall bitcoin holdings to roughly 8,133 BTC with a reasonable market price of roughly $375.8 million
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Cash on hand was roughly $268.5 million and overall liquidity, specified as money and bitcoin holdings, was roughly $644.3 million
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Received roughly 10,365 top-tier ASIC miners from BITMAIN throughout the month of December and 72,495 miners in 2021 with an extra 10,907 miners presently in transit
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Continued setting up miners at numerous centers run by Compute North as building of brand-new mining centers advances
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Existing mining fleet includes 32,350 active miners producing roughly 3.5 EH/s
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In December, acquired a record variety of ANTMINER S19 XP (140 TH/s) bitcoin miners from BITMAIN, increasing Marathon’s overall mining fleet to roughly 199,000 bitcoin miners producing roughly 23.3 EH/s by early 2023
Bitcoin Production Update
Marathon’s mining fleet produced roughly 3,197 self-mined bitcoin throughout 2021, an 846% boost from roughly 338 self-mined bitcoin throughout 2020. By month, the Company’s bitcoin production was as follows:
*Note: Upgrades and upkeep to the power producing station in Hardin, MT triggered Marathon’s bitcoin mining operations in Hardin, MT to run at considerably decreased capability in November 2021, adversely affecting the Company’s bitcoin production for the month. For additional info, see journalism release provided on 12/03/2021.
Total Network Hash Rate Source: https://www.blockchain.com/charts/hash-rate
The Company last offered bitcoin on October 21, 2020, and ever since, has actually been building up or “hodling” all bitcoin created. As an outcome, Marathon presently holds roughly 8,133 BTC, consisting of the 4,813 BTC the Company acquired in January 2021 for a typical rate of $31,168 per BTC. On January 1, 2022, the reasonable market price of one bitcoin was roughly $46,208, indicating that the approximate reasonable market price of Marathon’s present bitcoin holdings is roughly $375.8 million.
Miner Installations and Hash Rate Growth
During 2021, Marathon effectively released 30,391 top-tier bitcoin miners and finished the building of its mining center in Hardin, MT. As an outcome, the Company increased its hash rate by 1,790% from 0.2 EH/s in January 2021 to 3.5 EH/s in December 2021.
Marathon is continuing to deal with Compute North to release miners at Compute North’s existing centers in addition to at brand-new areas that are “behind the meter” at wind and solar farms run by among the biggest renewable resource power service providers inNorth America Construction of Compute North’s brand-new centers, consisting of a 280-megawatt (MW) website in west Texas, stays underway. Based on present building schedules, Marathon anticipates to start releasing miners at Compute North’s brand-new centers in the very first quarter of 2022.
On December 23, 2021, Marathon revealed that it had actually participated in an agreement with BITMAIN to buy a record variety of ANTMINER S19 XP (140 TH/s) bitcoin miners, all of which are presently anticipated to deliver from BITMAIN in between July 2022 and December 2022. Marathon presently anticipates all of its acquired miners to be released by early 2023, at which point, the Company’s mining operations are anticipated to include roughly 199,000 bitcoin miners, producing roughly 23.3 EH/s, making Marathon among the biggest understood openly traded bitcoin miners worldwide.
Management Commentary
“2021 was a transformative year for Marathon as we increased our hash rate 1,790% and increased our bitcoin production 846% year-over-year to 3,197 self-mined BTC,” stated Fred Thiel, Marathon’s CEO. “We finished the year with our most productive month to date, producing 484.5 bitcoin in December and 1,098 bitcoin in the fourth quarter. We expanded our agreement with Compute North and secured access to reliable hosting and renewable power behind the meter at industry low rates for over 100,000 of our previously purchased miners. And more recently, we placed a record order for BITMAIN’S newest machines, the S19 XP. As a result, we have increased our projected hash rate by 75% from our prior projection of 13.3 EH/s by the middle of 2022 to 23.3 EH/s by early 2023.
“We are starting 2022 with substantial momentum and a clear path to grow throughout this year and beyond. Today, we have access to top-tier hosting and renewable power, a strong balance sheet with $644.3 million in total liquidity, and nearly 167,000 industry leading bitcoin miners being added to our fleet between the start of this year and early 2023. We are currently installing machines at Compute North’s existing facilities and testing deployments at new locations. With construction progressing over the coming months, we expect to see these deployments accelerate as we move to full production. We are optimistic that 2022 will be another great year for our business, and we look forward to growing Marathon into one of the leading bitcoin miners in North America and potentially the largest known miner in the world over the coming quarters.”
Investor Notice
Investing in our securities includes a high degree of threat. Before making a financial investment choice, you ought to thoroughly think about the threats, unpredictabilities and positive declarations explained under “Risk Factors” in Item 1A of our latest Annual Report on Form 10-K for the ended December 31, 2020. If any of these threats were to happen, our service, monetary condition or outcomes of operations would likely suffer. In that occasion, the worth of our securities might decrease, and you might lose part or all of your financial investment. The unpredictabilities and threats we explain are not the only ones facing us. Additional runs the risk of not currently understood to us or that we presently consider immaterial might likewise hinder our service operations. In addition, our previous monetary efficiency might not be a dependable sign of future efficiency, and historic patterns ought to not be utilized to prepare for lead to the future. Future modifications in the network-wide mining problem rate or Bitcoin hash rate might likewise materially impact the future efficiency of Marathon’s production ofBitcoin Additionally, all conversations of monetary metrics presume mining problem rates since January 2021. The overall network’s hash rate information is determined from a third-party source, which is readily available here:https://www.blockchain.com/charts/hash-rate Data from third-party sources has actually not been individually confirmed. See “Safe Harbor” listed below.
Forward-Looking Statements
Statements made in this news release consist of positive declarations within the significance of Section 27A of the Securities Act of 1933, as changed, and Section 21E of the Securities Exchange Act of 1934. Forward- looking declarations can be determined by the usage of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or similar terms. Such positive declarations are naturally based on particular threats, unpredictabilities and patterns, a number of which the Company can not forecast with precision and a few of which the Company may not even prepare for and include aspects that might trigger real outcomes to vary materially from those forecasted or recommended. Readers are warned not to position excessive dependence on these positive declarations and are encouraged to think about the aspects noted above together with the extra aspects under the heading “Risk Factors” in the Company’s Annual Reports on Form 10-K, as might be supplemented or changed by the Company’s Quarterly Reports on Form 10-Q. The Company presumes no responsibility to upgrade or supplement positive declarations that end up being false due to the fact that of subsequent occasions, brand-new info or otherwise.
About Marathon Digital Holdings
Marathon is a digital possession innovation business that mines cryptocurrencies with a concentrate on the blockchain community and the generation of digital properties.
Marathon Digital Holdings Company Contact:
Charlie Schumacher
Telephone: 800-804-1690
Email: charlie@marathondh.com
Photos accompanying this statement are readily available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/686080cd-1160-40fd-a544-bb1527bfa675
https://www.globenewswire.com/NewsRoom/AttachmentNg/cad6444f-8de8-43db-a3ef-11dec335d11f
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