LAS VEGAS, Might 03, 2021 (GLOBE NEWSWIRE) — Marathon Digital Holdings, Inc. (NASDAQ:MARA) (“Marathon” or “Firm”), one of many largest enterprise Bitcoin self-mining firms in North America, as we speak printed unaudited bitcoin (“BTC”) manufacturing and miner set up updates for April 2021.
Company Highlights as of Might 1, 2021
- Produced 162.1 new minted bitcoins throughout April 2021, rising whole bitcoin holdings to roughly 5,292 with a good market worth of roughly $305.2 million
- Money available was roughly $204.4 million and whole liquidity, outlined as money and bitcoin holdings, was roughly $509.6 million
- Obtained roughly 13,032 S-19 Professional ASIC miners from Bitmain 12 months up to now with a further 3,885 S-19 Professional ASIC miners presently in transit
- Elevated lively mining fleet to roughly 12,084 miners, producing roughly 1.29 EH/s
Bitcoin Manufacturing Replace
As of Might 1, 2021, Marathon’s mining fleet has produced roughly 354 newly minted bitcoins throughout 2021. By month, the Firm’s bitcoin manufacturing was as follows:
- January 2021: 50.4 BTC
- February 2021: 43.4 BTC
- March 2021: 97.9 BTC
- April 2021: 162.1 BTC
Because of this, Marathon presently holds roughly 5,292 BTC, together with the 4,812.66 BTC the Firm bought in January 2021 for a mean worth of $31,168 per BTC. On Might 1, 2021, the truthful market worth of 1 bitcoin was roughly $57,678, implying that the approximate truthful market worth of Marathon’s present bitcoin holdings is roughly $305.2 million.
Miner Installations and Hash Fee Progress
As of Might 1, 2021, Bitmain has delivered roughly 13,032 S-19 Professional ASIC miners to the Firm’s mining facility in Hardin, MT, all of which had been delivered on time and as scheduled. Throughout the month of April, Marathon put in 5,288 new miners, rising the Firm’s lively mining fleet to roughly 12,084 miners, producing roughly 1.29 EH/s.
New miners proceed to be put in each day. Primarily based on present supply and set up schedules, Marathon continues to count on all beforehand bought miners to be totally put in by the tip of the primary quarter of 2022, at which level, the Firm’s mining fleet will consist of roughly 103,120 miners, producing roughly 10.37 EH/s.
“April was an extremely productive month as we introduced 5,288 new miners on-line and elevated our lively mining fleet’s hashrate roughly 82% in simply 30 days,” stated Fred Thiel, Marathon’s CEO. “Because of this, by the tip of April, we had been producing almost 7 bitcoins per day, up from 3.2 bitcoins per day on the finish of March. New miners proceed to be delivered and put in each day, and as they arrive on-line, these manufacturing figures will proceed to enhance as our enterprise scales into one of many largest enterprise Bitcoin mining operations in North America.”
Investing in our securities includes a excessive diploma of threat. Earlier than investing resolution, you must fastidiously take into account the dangers, uncertainties and forward-looking statements described beneath “Threat Components” in Merchandise 1A of our most up-to-date Annual Report on Type 10-Ok for the fiscal 12 months ended December 31, 2020. If any of those dangers had been to happen, our enterprise, monetary situation or outcomes of operations would probably endure. In that occasion, the worth of our securities might decline and you could possibly lose half or all your funding. The dangers and uncertainties we describe should not the one ones going through us. Extra dangers not presently recognized to us or that we presently deem immaterial might also impair our enterprise operations. As well as, our previous monetary efficiency is probably not a dependable indicator of future efficiency, and historic traits shouldn’t be used to anticipate outcomes sooner or later. Future modifications within the network-wide mining issue charge or Bitcoin hashrate might also materially have an effect on the longer term efficiency of Marathon’s manufacturing of Bitcoin. Moreover, all discussions of monetary metrics assume mining issue charges as of Might 2021. See “Secure Harbor” under.
Statements made on this press launch embody forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934. Ahead-looking statements may be recognized by means of phrases akin to “could,” “will,” “plan,” “ought to,” “count on,” “anticipate,” “estimate,” “proceed,” or comparable terminology. Such forward-looking statements are inherently topic to sure dangers, traits and uncertainties, lots of which the Firm can’t predict with accuracy and a few of which the Firm won’t even anticipate and contain elements that will trigger precise outcomes to vary materially from these projected or advised. Readers are cautioned to not place undue reliance on these forward-looking statements and are suggested to contemplate the elements listed above along with the extra elements beneath the heading “Threat Components” within the Firm’s Annual Experiences on Type 10-Ok, as could also be supplemented or amended by the Firm’s Quarterly Experiences on Type 10-Q. The Firm assumes no obligation to replace or complement forward-looking statements that grow to be unfaithful due to subsequent occasions, new info or in any other case.
About Marathon Digital Holdings
Marathon is a digital asset expertise firm that mines cryptocurrencies with a give attention to the blockchain ecosystem and the technology of digital property.
Marathon Digital Holdings Firm Contact:
E mail: Jason@marathondh.com
Marathon Digital Holdings Investor Contact:
Gateway Investor Relations
Matt Glover and Charlie Schumacher
E mail: MARA@gatewayir.com