Marathon increases Bitcoin reserves to 5134 coins

by in Cryptocurrency News


In the Q1 of 2021, the American mining company Marathon Digital Holdings mined 196 BTC. The total assets of the firm in the first cryptocurrency reached 5134.2 BTC worth about $ 301 million.

In January, Marathon allocated $ 150 million from reserves for the purchase of the first crypto. The company acquired 4,813 BTC through the New York Digital Investment Group (NYDIG) fund manager.

As of March 31, Marathon's combined fiat and bitcoin liquid assets were $ 513.9 million, according to a press release.

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The company said it received approximately 10,300 Antminer S-19 Pro miners from Bitmain during the quarter. The company was unable to complete the installation of new equipment by the end of the period, and as of March 31st, its fleet consisted of 6,800 devices that generated a hash rate of approximately 0.71 EH / s.

Marathon expects that the delivery of all previously acquired miners from Bitmain will be completed by the end of the year. The company plans to put them into operation by March 31, 2022, bringing the number of operating devices to 103,120 units. Their total hash rate will be about 10.37 EH/s.