{"id":68215,"date":"2022-10-06T18:17:58","date_gmt":"2022-10-06T15:17:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68215"},"modified":"2025-09-07T12:55:53","modified_gmt":"2025-09-07T09:55:53","slug":"marathon-digital-raises-reserves-to-10670-btc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/marathon-digital-raises-reserves-to-10670-btc\/","title":{"rendered":"Marathon Digital raises reserves to 10,670 BTC"},"content":{"rendered":"<p>The mining company Marathon Digital Holdings mined 360 BTC in September and lifted its crypto reserves to 10,670 BTC.<\/p>\n<blockquote class='twitter-tweet' data-lang='en'>\n<p dir='ltr' lang='en'><a href='https:\/\/twitter.com\/search?q=%24MARA&#038;src=ctag&#038;ref_src=twsrc%5Etfw'>$MARA<\/a>\u2018s September 22 production update is out: <\/p>\n<p>\u2014 Produced 360 <a href='https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw'>#BTC<\/a> <\/p>\n<p>\u2014 Increased hash rate to 5.7 EH\/s<\/p>\n<p>\u2014 57,000 total active miners<\/p>\n<p>\u2014 19,000 additional miners expected to be brought online over the next 30 days <\/p>\n<p>\u2014 <a href='https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw'>#BTC<\/a> holdings = 10,670 <a href='https:\/\/twitter.com\/hashtag\/HODL?src=hash&#038;ref_src=twsrc%5Etfw'>#HODL<\/a><a href='https:\/\/t.co\/quz4hjz60U'>https:\/\/t.co\/quz4hjz60U<\/a><\/p>\n<p>\u2014 Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) <a href='https:\/\/twitter.com\/MarathonDH\/status\/1578001716691214337?ref_src=twsrc%5Etfw'>October 6, 2022<\/a><\/p><\/blockquote>\n<p> <script async='' src='https:\/\/platform.twitter.com\/widgets.js' charset='utf-8'><\/script><\/p>\n<p>With the exception of <a href='https:\/\/forklog.news\/marathon-privlechet-100-mln-v-kredit-ot-silvergate-capital\/'>Bitcoin held as collateral<\/a>, as of September 30 the company had 6,841 BTC and about $55.3 million in fiat currency.<\/p>\n<p>By the end of the month Marathon&#8217;s hash rate reached 3.8 EH\/s, with a miner fleet of around 37,000. In early October the company boosted capacity to 5.7 EH\/s, deploying around 19,000 additional devices.<\/p>\n<p>The company expects to install a similar amount of equipment in the coming month. This would add around 2 EH\/s of hash rate, with a target of 23 EH\/s by the middle of the 2023 financial year.<\/p>\n<p>Marathon noted that most of its equipment operates at the hosting provider Compute North\u2019s facilities, which previously <a href=\"https:\/\/u1f987.com\/en\/news\/compute-north-files-for-bankruptcy\">filed for bankruptcy<\/a>. The company said the situation had not adversely affected operations.<\/p>\n<p>Financial risks for Marathon include its convertible preferred shares in Compute North valued at $10 million and $21.3 million. The company has also contributed operating deposits of $50 million to the provider. Payments are mainly linked to supporting operations at the King Mountain and Wolf Hollow sites in Texas.<\/p>\n<p>Marathon has, as scheduled, completed the relocation of equipment from Compute North&#8217;s data centre in Hardin, Montana. The firm is also relocating around 3,000 miners and the provider\u2019s facilities to Nebraska and South Dakota.<\/p>\n<p>In June, public miners for the first time sold more of the first cryptocurrency than they mined. The companies <a href=\"https:\/\/u1f987.com\/en\/news\/public-miners-liquidated-a-quarter-of-their-bitcoin-reserves-in-june\">liquidating around 14,600 BTC<\/a>. Marathon then confirmed the strategy <a href=\"https:\/\/u1f987.com\/en\/news\/marathon-digital-reaffirms-commitment-to-bitcoin-accumulation-strategy\">for long-term storage of mined cryptocurrency<\/a>.<\/p>\n<p>In July, the trend continued <a href=\"https:\/\/u1f987.com\/en\/news\/in-july-public-miners-continued-to-liquidate-bitcoin-reserves\">: with total mined of 3,478 BTC, the firms sold 5,768 BTC. Marathon and <a href=\"https:\/\/u1f987.com\/en\/news\/hut-8s-mining-reserves-top-7736-btc\">Hut 8 Mining<\/a> continued to hold reserves in digital assets.<\/p>\n<p>In September, Arcane Research analysts concluded that the overwhelming majority of public miners <a href=\"https:\/\/u1f987.com\/en\/news\/study-finds-publicly-listed-mining-companies-posted-losses-amid-crypto-winter\">were hit by cryptowinter<\/a>. Analysts say that further stagnation in Bitcoin&#8217;s price and rising hash rate could worsen the already difficult position of these companies.<\/p>\n<p><script async='' src='https:\/\/telegram.org\/js\/telegram-widget.js?19' data-telegram-post='forklog\/27889' data-width='100%'><\/script><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-miner-revenues-fall-19-in-september\">In September, miners&#8217; aggregate revenue fell by 19%<\/a> to $551 million, according to ForkLog.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href='https:\/\/telegram.me\/forklog' target='_blank' rel='nofollow noopener'>Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The mining company Marathon Digital Holdings mined 360 BTC in September and raised its cryptocurrency reserves to 10,670 BTC.<\/p>\n","protected":false},"author":1,"featured_media":68216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1185],"class_list":["post-68215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-marathon-digital-holdings"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68215"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68215\/revisions"}],"predecessor-version":[{"id":68217,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68215\/revisions\/68217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}