Bitcoin Miner Marathon’s Best Year 2021

  • Marathon mined 3,197 bitcoins in 2021, an increase of 846% from the previous year.
  • In December, the company produced 147% more bitcoins than in November.
  • Marathon received over 10,000 new mining rigs from Bitmain in December.

Bitcoin mining company Marathon Digital Holdings had a banner year in 2021 as it produced more than 3,000 bitcoins, up from 338 BTC the previous year, the company said in a statement on Monday. The miner now holds a total of 8,133 BTC worth around $370 million at the time of writing.

Marathon’s monthly output also increased in December as the miner saw its operations run near full capacity after a previous month marked by maintenance work and upgrades at its power plants. The miner produced 417.7 BTC in October, 196 BTC in November, and 484.5 BTC in December.

“2021 was a transformational year for Marathon as we grew our hash rate by 1,790% and increased our bitcoin production by 846% year-over-year to 3,197 self-mined BTC,” said Fred Thiel, CEO of Marathon, in a statement. “We ended the year with our most productive month yet, producing 484.5 bitcoins in December and 1,098 bitcoins in the fourth quarter.”

Marathon’s monthly production of self-mined bitcoins and the total hash rate of the bitcoin network. Source: Marathon Digital Holdings.

Marathon said it deployed 30,391 bitcoin mining machines last year to boost its hash rate capacity from 0.2 exahash per second (EH/s) in January to 3.5 EH/s in December. The company has also extended a hosting deal with Compute North to accommodate 100,000 miners, which is 30,000 more rigs than the original deal. Marathon said its mining fleet currently consists of 32,350 active machines.

In December, Marathon announced a stellar $879 million purchase of 78,000 Bitcoin mining rigs from Bitmain with the goal of reaching over 23 PE/s of hash rate capacity by the end of the year. next year. Under the terms of the purchase agreement, the company will receive 13,000 machines per month between July and December 2022.

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