Marathon Digital Holdings Achieves Record-Breaking Bitcoin Production and Mining Results in Q1 2023

Marathon Digital Holdings has recently released updates pertaining to its Bitcoin production and mining operations in March 2023. The company was able to achieve a 21% increase in Bitcoin production, producing a record-breaking 825 BTC in March 2023, and 2,195 BTC in Q1 2023.

Additionally, Marathon Digital Holdings recorded a significant 64% increase in Hash Rate in Q1 2023, achieving a rate of 11.5 EH/s as of March 31, 2023. In terms of financials, the company is reported to have unrestricted cash and cash equivalents amounting to $124.9 million.

It is also noteworthy that the company’s unrestricted Bitcoin holdings increased to 11,466 BTC (equivalent to c. $326.5 million) as of March 31, 2023.