Gokil This Bitcoin Mining Company Successfully Mines 1,853 BTC

Digital Marathon, the world's leading bitcoin mining company managed to mine more than a thousand Bitcoins in one month. (Photo; Doc. Criptonoticias)

JAKARTA - Marathon Digital Holdings, one of the world's largest Bitcoin mining companies, managed to set a new record by mining 1,853 Bitcoins in December 2023. This number increased 56 percent from the previous month and 290 percent from the previous year.

According to a press release released on January 4, 2024, Marathon Digital claims that this is the highest total monthly revenue a public Bitcoin mining company has ever recorded. Previously, this record was held by Core Scientific, which mined 1,527 Bitcoins in January 2023.

This increase in Bitcoin production can be attributable to an increase in hash rate, namely the computational speed used to mine Bitcoin. The Hash Marathon Digital rate rose 18.4 percent to 22.4 exahash per second in December.

To increase mining capacity, Marathon Digital also announced plans to buy two mining centers worth $179 million (IDR 2.8 trillion) on December 19. These two mining centers will increase mining capacity by 390 megawatts to their existing production capacity by 584 megawatts.

"We continue to target the growth of an energy-connected hash rate of 30 percent by 2024, and with the acquisition of two sites from Generate Capital that have just been announced, we look forward to reaching 50 exahashes in the next 18 to 24 months," said Fried Thiel, Chairman and CEO of Marathon Digital.

Digital Marathon performance in December also had a positive impact on its shares in the US stock market. On December 28, Marathon Digital became the most-traded public company on the US stock market among medium and large-capalyzed companies. Its daily stock trading volume reached $3.3 billion (IDR 51.2 trillion), beating giant companies such as Tesla, Apple, and Amazon.

Marathon Digital is one of Bitcoin mining companies seeking to expand its operations ahead of a possible Bitcoin spot Bitcoin ETF approval next week and Bitcoin breaking in April.

On December 5, a competitor to Marathon Digital, Riot Platforms, also bought an additional Bitcoin mining machine worth $291 million (IDR 4.5 trillion), marking the biggest increase in hash rate in the company's history. Not only that, Riot Platforms also plans to buy another 48,000 Bitcoin mining machines by 2024.