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Marathon Digital Says Produced 268 Self-Mined Bitcoin In May 2022

Highlights as of June 1, 2022 Total number of miners installed and awaiting energization increased to 19,000 miners (c. 1.9 EH/s across all facilities.   Current operating mining fleet consists of 36,830 active

Benzinga · 06/09/2022 16:21

Highlights as of June 1, 2022

  • Total number of miners installed and awaiting energization increased to 19,000 miners (c. 1.9 EH/s across all facilities.
     
  • Current operating mining fleet consists of 36,830 active miners producing approximately 3.9 EH/s.
     
  • Increased total bitcoin holdings to 9,941 BTC with a fair market value of $315.1 million.
  • Produced 268 self-mined bitcoin during May 2022. Production was lower than expected due to ongoing maintenance and downtime at the power plant in Hardin, MT. These issues, which included problems between the induced draft and forced draft fans, the buildup of particulate matter that required cleaning, and GSU transformer testing, in aggregate reduced Marathon's potential bitcoin production by approximately 47% during the month.
  • As previously announced, Marathon plans to transition out of Hardin, MT to more sustainable sources of power during the third quarter of 2022.
    • Cash on hand was approximately $59.6 million and total liquidity, now defined as unrestricted cash and available credit facilities, was approximately $86 million.