Share this article
Marathon Digital Bitcoin Production Weaker Than Hoped in May
The company continues to "HODL" all of its mined bitcoin, with 9,941 coins worth $315.1 million on its balance sheet as of June 1.
Updated May 11, 2023, 6:53 p.m. Published Jun 9, 2022, 9:25 p.m.
Make us preferred on Google
In this article
Bitcoin miner Marathon Digital (MARA) in May experienced energization delays in Texas and ongoing maintenance issues at its Hardin, Montana, facility, leading to the production of about 47% fewer bitcoins than initially expected based on the company’s hashrate last month.
Marathon was originally informed by host Compute North that energization of its miners at its West Texas facility would begin in April. That was then delayed to May, and as of June 8, energization has yet to take place. At issue, Marathon said, is a tax matter for Compute North's energy supplier. Marathon expects the situation to be resolved in June.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
CEO Fred Thiel said – in addition to its active fleet – new miner installation continues, with more than 19,00 rigs installed and awaiting energization.
Despite a recent industry trend of some miners selling some of their crypto holdings to help fund operating costs and/or expansion, Marathon continues to HODL, noting it hasn't sold any bitcoin since October 2020. As of June 1, the company held about 9,941 bitcoin worth $315.1 million on its balance sheet.
More For You
More For You
Prediction markets vs. insider trading: Founders admit blockchain transparency is the only defense
Prediction markets are increasingly being framed not as gambling platforms but as vehicles for monetizing information, though founders acknowledged the line can blur.
What to know:
- Founders argue prediction markets monetize information, though user intent varies.
- Onchain transparency helps, but information asymmetry remains a core challenge.
- How platforms address manipulation and disclosure will shape institutional acceptance.
Top Stories
