Bitcoin mining company Marathon Digital Holdings broke the company record in March and produced 825 Bitcoins. Marathon also broke a record in the first quarter of 2023, this time on a quarterly basis and produced 2195 BTC. The biggest factor in Marathon’s record BTC production was that the company increased its mining power, that is, the hash rate, from 7 exahash to 11.5 exahash as of January 1. The figure is expected to rise to 23 exahash by the middle of the year.
The company also operated and started production of 13,000 mining devices that it installed in the North Dakota region in the USA. As of the beginning of April, it was stated that the total number of mining devices owned by the company was 105200.
Fred Thiel, who is both the CEO and chairman of the board of the Marathon company, said in a statement that they reduced the debt burden of the company by $ 50 million, and at the same time, thanks to this situation, they were able to release 3132 more Bitcoins to be spent whenever they wanted. Marathon’s Q4 2022 revenue fell 58% from a year ago to $28 million.