{"id":69040,"date":"2023-10-05T11:06:58","date_gmt":"2023-10-05T15:06:58","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-mined-by-marathon-digital-in-september-more-than-triples-from-last-year\/"},"modified":"2023-10-05T11:07:02","modified_gmt":"2023-10-05T15:07:02","slug":"bitcoin-mined-by-marathon-digital-in-september-more-than-triples-from-last-year","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69040","title":{"rendered":"Bitcoin mined by Marathon Digital in September more than triples from last year"},"content":{"rendered":"
\n

Shares of Marathon Digital Holdings Inc. surged Wednesday after the bitcoin miner said the bitcoin mined in September was more than triple that of a year ago, and up 16% from the month before.<\/p>\n

\u201cThe increase in bitcoin production from August was due to improved uptime and decreased curtailment activity in Texas,\u201d said Chief Executive Fred Thiel. \u201cIn September, our share of the bitcoin network\u2019s available miner rewards was a record 4.3%, up from 3.7% last month and the previous record of 4.1% in July 2023.\u201d<\/p>\n

\n

Marathon Digital\u2019s stock
\n MARA,
\n -1.53%<\/bg-quote>
\n rose 3.3% in premarket trading. On Tuesday, the stock had tumbled 14.4% to $7.30, the lowest close since March 28.<\/p>\n

Meanwhile, bitcoin
\n BTCUSD,
\n +0.52%<\/bg-quote>
\n rose 0.6% early Wednesday toward a five-week high.<\/p>\n

The company said it produced 1,242 bitcoin in September, up 16% from August and a 245% increase for a year ago.<\/p>\n

\u201cBy upgrading equipment, leveraging our proprietary firmware, and making other technical improvements, we increased our U.S. average operational hash rate 20% month-over-month to 15.8 exahashes,\u201d Thiel said.<\/p>\n

Marathon said it sold 800 bitcoin in September, to support monthly operations, manage its treasury and for general corporate purposes. <\/p>\n

That brings the total unrestricted bitcoin holdings to 13,726 as of Sept. 30, which the company valued at about $370 million. With $101.2 million in cash and cash equivalents, the company said it had $471.2 million in restricted cash and bitcoin at the end of September.<\/p>\n

Marathon Digital\u2019s stock has tumbled 52.4% over the past three months, while bitcoin has lost 11.4% and the S&P 500 index
\n SPX
\n has declined 5.1%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Marathon Digital Holdings Inc. surged Wednesday after the bitcoin miner said the bitcoin mined in September was more than triple that of a year ago, and up 16% from the month before. \u201cThe increase in bitcoin production from August was due to improved uptime and decreased curtailment activity in Texas,\u201d said Chief Executive […]<\/p>\n","protected":false},"author":1,"featured_media":69041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-69040","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin mined by Marathon Digital in September more than triples from last year | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Marathon Digital Holdings Inc. surged Wednesday after the bitcoin miner said the bitcoin mined in 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