Mining Giant: We Have 8,595 Bitcoins And Haven’t Sell Since October 2020!

bitcoin mining company Marathon Digital Holdings announced in January that they had acquired 462.1 new BTC as a result of mining operations. This number was 484.5 BTC last month. It was stated that the decrease in the production of the company in November was due to the maintenance of the mining facilities that month.

The Company Announces It Has A Total Of 8,595 Bitcoins

The company announced that it made its last BTC sale on October 21, 2020. Since this date, the mining giant has crypto coins holding without selling. As a result, the company announced that it has 8,595 ($330 million) Bitcoins in total, along with 4,813 BTC purchased in January 2021.

The number of Bitcoins produced by the company by month.

However, on an annual basis, we see that Marathon has increased its production by 816%. This increase came after the company continuously increased its hashrate capacity and made energy deals. According to the company’s statement, 93,000 new mining devices have been purchased from mining equipment manufacturer Bitmain. 32,710 of these devices are already installed and operational, while the remaining thousands are in the process of being deployed at Compute North facilities.

Marathon had an agreement with the infrastructure company to host and manage 73,000 mining devices, but in December it was decided to include 30,000 extra devices, along with the clauses added to the agreement.

In his statement, Marathon CEO Fred Thiel said: “We have started to install mining devices in containers at Compute North’s new facilities. Our progress in this area is also going smoothly. We expect these containers to be energized at this time. According to our current calendar, the installation of mining devices will accelerate in the first quarter of the year and we will maintain this momentum in the second quarter and the rest of the year.”

The hashrate that the company has so far and is targeting for the upcoming period.

The company said in its statement that all mining device orders will be in their hands by early 2023. However, Marathon will have a total of approximately 199,000 mining devices.

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