- Marathon Digital Holdings produced 340.6 BTC during the month of September and a total of 1,252.4 BTC during the third quarter of 2021, a 91% increase in production quarterly.
- The company now owns 7,035 bitcoins worth about $337.7 million at the time of writing.
- Marathon also secured a $100 million revolving credit line on October 1, collateralized by BTC and US dollars, with Silvergate Bank.
- The current mine fleet consists of 25,272 active miners with a hash capacity of about 2.7 exahs per second (EH/s).
Bitcoin miner Marathon Digital Holdings has posted its bitcoin production and miner stabilization updates for September and announced a new $100 million revolving line of credit (RLOC) with Silvergate Bank, according to a press release.
Marathon generated 340.6 new bitcoins during September, down 27% from August. The company generated 1,252.4 BTC during the third quarter, increasing its production by 91% on a quarterly basis. The company owns approximately 7,035 bitcoins, worth approximately $337.7 million at the time of writing.
Monthly Bitcoin production from Marathon Digital Holdings. Source
Bitmain has delivered about 29,960 ASIC rigs to its Marathon mining operations in Hardin, Montana, as of October 1, 2021. The bitcoin miner said in the release that the current mining fleet consists of 25,272 active machines, producing about 2.7 EH/s of hashes. Marathon expects all purchased rigs to be delivered by mid-2022, at which time the company expects to have approximately 133,000 miners in its operations.
With a $100 million RLOC secured with Silvergate Bank, Marathon will be able to invest in assets and activities related to the bitcoin mining business, including the purchase of equipment. The RLOC is secured by BTC and USD and is available for one year but can be renewed annually through an agreement with both companies.
Silvergate is a California-based Federal Reserve member bank focused on providing financial infrastructure solutions and services to bitcoin and cryptocurrency companies. As of the third quarter of 2019, the bank had more than 750 digital currencies and fintech clients.
