peterschreiber.media/iStock via Getty Images
Marathon Digital (NASDAQ:MARA) said it mined about 894 Bitcoins (BTC-USD) in March, up 7% from the previous month.
The increase in production comes despite certain challenges that the company faced throughout the first quarter.
“Throughout the first quarter, our Bitcoin production has been impacted by unexpected equipment failures, transmission line maintenance, and higher than anticipated weather-related curtailment across multiple sites,” said CEO and chair, Fred Thiel.
The average BTC produced per day was 28.8 BTC vs. 28.7 BTC in February.
Marathon’s (MARA) BTC holdings were 17,381 BTC; total cash and BTC of $1.6B as of March 31, 2024.
Shares in the company up 3.2% in pre-market trade.