Marathon Digital Holdings (NASDAQ: MARA), a leader in supporting and securing the bitcoin ecosystem, has published unaudited bitcoin (“BTC”) production and miner installation updates for June 2022. Among the highlights, the company reportedly produced 707 BTC in Q2 2022, up 8% year-over-year from Q2 2021, and now holds 10,055 BTC directly. “In the second quarter, we continued to work through several operational obstacles as we progressed with installing miners in Texas in preparation of energization,” said Fred Thiel, Marathon’s chairman and CEO. “In April and May, our bitcoin production was impacted by ongoing maintenance issues at the power generating facility in Hardin, MT that supplies our Hardin-based miners with power. On June 11, the situation was exacerbated by a severe storm that passed through the region, damaging the power plant’s cooling towers and leaving our 30,000 miners in the region without power. According to the most recent reports, these miners, which represent over 75% of our active fleet, appear to be mostly undamaged by the storm. The ground crew at Hardin continues to make progress as they work to bring the power plant and our miners back online in a reduced capacity.”
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About Marathon Digital Holdings Inc.
Marathon is a digital asset technology company that focuses on supporting and securing the bitcoin ecosystem. The company is currently in the process of becoming one of the largest and most sustainably powered bitcoin mining operations in North America, while remaining asset light. For more information about the company, visit www.MarathonDH.com.
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