One of the biggest publicly traded Bitcoin miners in North America, Marathon Digital (MARA), has reported a fourth-quarter revenue increase of 17% from the previous quarter. Nevertheless the $60.3 million was still a little below what analyst estimated with $60.9 million.
The company’s earnings press release noted that the self-mined Bitcoin was down 12% from the previous quarter to 1,098 BTC, yet 600% up from a year prior.
Referring to the company’s data center in Montana, Marathon Digital CEO Fred Thiel said:
“While maintenance to the power generating station in Hardin, MT materially impacted our bitcoin production in November, we still produced 1,098 bitcoin in the fourth quarter and ended the year with our most productive month to date, producing 484.5 bitcoin in December alone.”
As of February 28, Marathon holds 8,956 bitcoin, which at a market price of $43,193, was worth almost $386.8 million, the company said.
Thiel looked ahead to the miner’s future and noted its aspirations towards green operations:
“We believe Marathon remains well positioned to generate approximately 23.3 EH/s and for our mining operations to be 100% carbon neutral by early 2023.”
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Source: Igaming
