Marathon Digital Holdings (MARA) Reports Increase in Bitcoin Production and Hash Rate for September 2024
Marathon Digital Holdings (NASDAQ: MARA), one of the world’s largest publicly traded bitcoin (BTC) miners, has released its unaudited Bitcoin production and mining operation updates for September 2024. According to MARA, the company saw a substantial increase in its operational metrics.
Significant Improvements in Hash Rate and Block Wins
In September 2024, MARA’s energized hash rate increased by 5% to 36.9 EH/s, up from 35.2 EH/s in August. The company also reported winning 207 blocks, a 6% increase compared to August’s 196 blocks. The total BTC produced for the month was 705 BTC, reflecting a 5% growth from the previous month’s 673 BTC.
Fred Thiel, MARA's chairman and CEO, highlighted the strength of their globally diversified operations, stating, “In September, the strength of our globally diversified operations was evident as we achieved significant uptime and increased our energized hash rate to 36.9 EH/s. Block wins during the month increased 6% from August while BTC production grew 5% to 705 BTC. We are proud to have surpassed a marathon worth of bitcoin HODL in September and currently have almost 27,000 BTC on our balance sheet.”
Progress Towards Future Goals
MARA remains on track to reach its target of 50 EH/s by the end of 2024. The company is rapidly energizing its owned sites and operating them more efficiently than initially planned. The conversion of the Granbury data center from air-cooled to MARA’s immersion containers is progressing on schedule and is expected to be completed before the year ends.
In an effort to enhance environmental transparency and corporate responsibility, MARA has become the first publicly traded digital asset compute company to submit a disclosure to the Climate Disclosure Project (CDP).
Operational Highlights
| Metric | 9/30/2024 | 8/31/2024 | % Change |
| Number of Blocks Won | 207 | 196 | 6% |
| BTC Produced | 705 | 673 | 5% |
| Average BTC Produced per Day | 23.5 | 21.7 | 8% |
| Share of Available Miner Rewards | 5.2% | 4.8% | NM |
| Transaction Fees as % of Total | 1.7% | 2.7% | NM |
| Energized Hash Rate (EH/s) | 36.9 | 35.2 | 5% |
As of September 30, 2024, MARA held a total of 26,842 unrestricted BTC. The company opted not to sell any BTC during the month.
Commitment to Environmental and Corporate Responsibility
In addition to their operational advancements, MARA has emphasized its dedication to environmental transparency by submitting a disclosure to the Climate Disclosure Project (CDP). This initiative underscores MARA’s commitment to corporate responsibility and sustainability in the digital asset sector.
For further details, please refer to the official MARA announcement.