Marathon Digital Holdings Inc (NASDAQ:MARA) achieved a significant 16% monthly increase in its Bitcoin production in September 2023, reporting a total of 1,242 bitcoins. The rise is attributed to improved operations at its Texas facility and the success of an Abu Dhabi joint venture, which contributed an additional 50 bitcoins to the total.
Despite this growth, the company's share price experienced a slight dip of 1.03% on Wednesday. This comes even as Marathon's miner reward share reached a record high of 4.3%. The firm's combined unrestricted cash and Bitcoin holdings stood at $471 million, with 13,726 unrestricted bitcoins.
To support its operations, Marathon sold 800 bitcoins in September. The company also retired most of its convertible debt and successfully hit a domestic growth target of 23 exahashes. As part of its future plans, Marathon is considering expansion into regions with access to low-cost renewable energy.
In anticipation of further growth, the company is awaiting the energization of its Texas facility. A Special Meeting of Shareholders has been scheduled for November 10, 2023, where further developments are expected to be discussed.
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