– Marathon Digital Holdings produced 1,072 Bitcoin in August, which is five times more than in August 2022 but 9% less than in July.
– The company increased its U.S. operational hash rate by 2% and its installed hash rate by 1% in August.
– Marathon aims to reach a hash rate of 30 exahashes, with two planned to be obtained through international facilities and five through contracts with other entities.
– Marathon’s new mining facility in Garden City, Texas is being finalized, and its joint venture in Abu Dhabi mined 50 Bitcoin in August.
– The decrease in BTC production is attributed to unfavorable weather conditions, particularly increased curtailment activity in Texas due to record high temperatures.
– Marathon reported a 228% increase in revenue over Q2 2022 and used the proceeds from selling 63% of the mined Bitcoin to fund operating costs.
– Impairment charges on the value of held digital assets amounted to $8.4 million.
