TL;DR
- Marathon Digital Holdings produced 692 BTC in July, increasing its production by 17% compared to the previous month, with an average operational hash rate of 27.5 EH/s.
- The company increased its holdings by 2,282 BTC during the month, reaching a total of 20,818 BTC, valued at over $1.14 billion, in line with its “HODL” strategy.
- Marathon did not sell BTC in July and increased its block production by 27%.
Marathon Digital Holdings, the world’s largest Bitcoin (BTC) miner, has revealed a series of updates regarding its BTC production and holdings for July 2024. The company has significantly increased its production capacity and cryptocurrency holdings.
In July, Marathon Digital produced a total of 692 BTC, representing a 17% increase compared to the previous month. The company has worked to maximize its performance in response to the lower BTC price. The average operational hash rate of the company grew by 5%, reaching 27.5 EH/s, a key indicator of the efficiency of its mining operations.
Additionally, MARA has increased its Bitcoin holdings. The company added 2,282 BTC to its reserves during July, which equates to a value of over $124 million. With this increase, Marathon now holds a total of 20,818 BTC, valued at over $1.14 billion. The acquisition strategy is part of the company’s policy to maintain a strategic reserve of BTC, known as “HODL” (Hold On for Dear Life), which involves holding the asset long-term rather than selling it.
Marathon Digital Bets on Long-Term Bitcoin
Furthermore, the report revealed that the company did not sell any BTC in July, opting instead to strengthen its treasury through the accumulation of assets. Additionally, Marathon Digital increased its block production by 27% over the past month, highlighting the effectiveness of its mining operations despite the reduction in block rewards due to the 2024 halving.
The company continues to work on expanding its mining infrastructure. Approximately 5,000 new miners have been energized and 10,000 existing units have been relocated to optimize its fleet. Despite market challenges and changes, Marathon Digital continues with its growth strategy, establishing itself as a key player in Bitcoin mining.
