MARA Reports Bitcoin Production, Hash Rate Gains in September 2024

Marathon Digital Holdings (MARA) Reports Increase in Bitcoin Production and Hash Rate for September 2024

Marathon Digital Holdings (NASDAQ: MARA), a leading global bitcoin (BTC) miner, has published its unaudited updates on Bitcoin production and mining operations for September 2024. According to MARA, the company experienced a noteworthy improvement in its operational metrics.

Notable Gains in Hash Rate and Block Wins

In September 2024, MARA’s energized hash rate surged by 5% to 36.9 EH/s, increasing from 35.2 EH/s in August. The company also reported securing 207 blocks, marking a 6% rise from August’s count of 196 blocks. A total of 705 BTC was produced during the month, showing a 5% increase from the 673 BTC produced in the previous month.

Fred Thiel, MARA’s chairman and CEO, emphasized the strength of their diversified operations globally, stating, “In September, our globally diversified operations demonstrated strength as we achieved significant uptime and raised our energized hash rate to 36.9 EH/s. Block wins for the month were up 6% from August, and BTC production grew by 5% to 705 BTC. We are pleased to have surpassed a marathon of bitcoin HODL in September, and we currently hold almost 27,000 BTC on our balance sheet.”

Advancing Towards Future Objectives

MARA is on course to meet its ambitious target of 50 EH/s by the end of 2024. The company is quickly energizing its owned sites and optimizing their operational efficiency beyond initial expectations. The conversion of the Granbury data center from air-cooled to MARA’s immersion cooling containers is progressing as planned and is anticipated to be completed before the year’s end.

In a move to enhance environmental transparency and corporate accountability, MARA has become the first publicly traded digital asset compute firm to submit a disclosure to the Climate Disclosure Project (CDP).

Operational Key Metrics

Metric	9/30/2024	8/31/2024	% Change
Number of Blocks Won	207	196	6%
BTC Produced	705	673	5%
Average BTC Produced per Day	23.5	21.7	8%
Share of Available Miner Rewards	5.2%	4.8%	NM
Transaction Fees as % of Total	1.7%	2.7%	NM
Energized Hash Rate (EH/s)	36.9	35.2	5%

As of September 30, 2024, MARA possessed a total of 26,842 unrestricted BTC. The company opted not to sell any BTC during the month.

Dedication to Environmental and Corporate Sustainability

Beyond operational advancements, MARA has reiterated its commitment to environmental transparency by submitting a disclosure to the Climate Disclosure Project (CDP). This initiative demonstrates MARA’s dedication to corporate responsibility and sustainability within the digital asset realm.

For further information, please consult the official MARA announcement.

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