Marathon Digital Holdings strengthened its position as North America’s most prominent public Bitcoin miner, producing 1,187 BTC in November and increasing its combined unrestricted cash and Bitcoin holdings to $802.3 million.
Achieving a significant milestone, the company completed a 20% increase in the domestic energy hash rate to 23.1 exahash. vitality This is a view of the facility in Garden City, Texas. The miner’s November production was slightly lower than the October figure due to a sequential 9% increase in network difficulty.
This production involves a joint venture between Abu Dhabi and Paraguay. In the US alone, the company mined 1,151 bitcoins, with transaction fees due to increased network activity accounting for approximately 12% of this total.
As of November 30, Marathon holds 14,025 unlimited bitcoins. To cover operating costs, the company sold 700 bitcoins, equivalent to 59% of its monthly production. Additionally, the company’s unrestricted cash and cash equivalents increased significantly, totaling $273.1 million at the end of November. The combined balance of unrestricted cash and Bitcoin jumped from $620.3 million to $802.3 million over the course of the month.
The Company’s financial strategy is consistent with preparing for the upcoming Bitcoin network halving event and seizing strategic opportunities, including potential industry consolidation.