Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for June 2021

Total Bitcoin Holdings to Increase to Approximately 5,784 BTC as Marathon Produces 265.6 BTC in June 2021 and Completes Buildout of Container Facilities in Hardin, MT

Anticipated Delivery of Miners per Month

Anticipated Delivery of Miners per Month

Anticipated Delivery of Miners per Month

LAS VEGAS, July 02, 2021 (GLOBE NEWSWIRE) — Marathon Digital Holdings, Inc. (NASDAQ:MARA) (“Marathon” or “Company”), one of many largest enterprise Bitcoin self-mining corporations in North America, as we speak printed unaudited bitcoin (“BTC”) manufacturing and miner set up updates for June 2021.

Corporate Highlights as of July 1, 2021

  • Produced 265.6 new minted bitcoins throughout June 2021, growing whole bitcoin holdings to roughly 5,784 with a good market worth of roughly $201.6 million

  • Cash readily available was roughly $170.6 million and whole liquidity, outlined as money and bitcoin holdings, was roughly $372.2 million

  • Received roughly 18,702 S-19 Pro ASIC miners from Bitmain yr so far with an extra 1,056 S-19 Pro ASIC miners presently in transit

  • Increased lively mining fleet to roughly 19,395 miners, producing roughly 2.09 EH/s

  • Completed building of the containers that home mining rigs on the Company’s mining facility in Hardin, MT

Bitcoin Production Update
As of July 1, 2021, Marathon’s mining fleet has produced roughly 846 newly minted bitcoins throughout 2021. By month, the Company’s bitcoin manufacturing was as follows:

  • January 2021: 50.4 BTC

  • February 2021: 43.4 BTC

  • March 2021: 97.9 BTC

  • April 2021: 162.1 BTC

  • May 2021: 226.6 BTC

  • June 2021: 265.6 BTC

As a end result, Marathon presently holds roughly 5,784 BTC, together with the 4,812.66 BTC the Company bought in January 2021 for a mean value of $31,168 per BTC. On July 1, 2021, the honest market worth of 1 bitcoin was roughly $34,855, implying that the approximate honest market worth of Marathon’s present bitcoin holdings is roughly $201.6 million.

Miner Installations and Hashrate Growth
During June, Marathon accomplished building of the remaining containers which is able to home roughly two-thirds the Company’s mining rigs at its facility at Hardin, MT. The stability of the miners might be housed in a brand new construction presently underneath building. All containers at Hardin have been constructed out and are able to obtain new miners in keeping with beforehand launched supply schedules of 1,800 in July, 7,000 in August and the ultimate tranche of roughly 3,200 in September, after which, the Company will start putting in its remaining 73,000 miners at a brand new 300-megawatt facility in Texas, hosted by Compute North.

As of July 1, 2021, Bitmain has delivered roughly 18,702 S-19 Pro ASIC miners to the Company’s mining facility in Hardin, MT, all of which have been delivered on time and as scheduled. During the month of June, Marathon put in 1,740 new miners, growing the Company’s lively mining fleet to roughly 19,395 miners, producing roughly 2.09 EH/s.

New miners proceed to be put in every day. Based on present supply and set up schedules, Marathon continues to count on all beforehand bought miners to be totally put in by the tip of the primary quarter of 2022, at which level, the Company’s mining fleet will consist of roughly 103,120 miners, producing roughly 10.37 EH/s.

As of June 30, 2021, 1,056 miners have been obtained or are in transit, with the stability anticipated in July on account of world logistics delays. Future deliveries are anticipated as initially scheduled.

Management Commentary
“In June, we produced 265.6 bitcoins, which is a 17% improve from the 226.6 bitcoins we produced in May, and we elevated our hashrate to 2.09 EH/s after putting in one other 1,740 miners,” stated Fred Thiel, Marathon’s CEO. “We additionally accomplished constructing and making ready the remaining containers which is able to home our mining rigs in Hardin, MT. As a end result, we’re nicely positioned to obtain and set up the remaining miners at Hardin earlier than turning our consideration to the brand new facility in Texas, which is able to home the vast majority of our miners and which might be 100% carbon impartial.

“May, June, and July are slower supply months as the vast majority of our miners are anticipated to be delivered this fall. We are due to this fact benefiting from this chance to proactively carry out upkeep and upgrades on a portion of our present containers and techniques earlier than supply schedules speed up and to organize for the anticipated lower in world hashrate. These preparatory actions resulted in a few of our miners being offline throughout June, quickly lowering our hashrate. However, we nonetheless elevated our bitcoin manufacturing month over month, and we are actually higher ready to obtain the big upcoming shipments and benefit from anticipated favorable mining situations.

“Given our present supply schedule and the macro occasions affecting the worldwide community hashrate, Marathon stays notably nicely positioned to scale and thrive within the present mining atmosphere.”

Investor Notice
Investing in our securities includes a excessive diploma of threat. Before investing choice, it’s best to fastidiously think about the dangers, uncertainties and forward-looking statements described underneath “Risk Factors” in Item 1A of our most up-to-date Annual Report on Form 10-Ok for the fiscal yr ended December 31, 2020. If any of those dangers have been to happen, our enterprise, monetary situation or outcomes of operations would probably endure. In that occasion, the worth of our securities might decline, and you possibly can lose half or your entire funding. The dangers and uncertainties we describe are usually not the one ones dealing with us. Additional dangers not presently recognized to us or that we presently deem immaterial can also impair our enterprise operations. In addition, our previous monetary efficiency might not be a dependable indicator of future efficiency, and historic tendencies shouldn’t be used to anticipate outcomes sooner or later. Future adjustments within the network-wide mining issue charge or Bitcoin hashrate can also materially have an effect on the long run efficiency of Marathon’s manufacturing of Bitcoin. Additionally, all discussions of monetary metrics assume mining issue charges as of July 2021. See “Safe Harbor” under.

Forward-Looking Statements
Statements made on this press launch embrace forward-looking statements throughout the which means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements could be recognized by way of phrases similar to “could,” “will,” “plan,” “ought to,” “count on,” “anticipate,” “estimate,” “proceed,” or comparable terminology. Such forward-looking statements are inherently topic to sure dangers, tendencies and uncertainties, a lot of which the Company can’t predict with accuracy and a few of which the Company won’t even anticipate and contain components that will trigger precise outcomes to vary materially from these projected or prompt. Readers are cautioned to not place undue reliance on these forward-looking statements and are suggested to think about the components listed above along with the extra components underneath the heading “Risk Factors” within the Company’s Annual Reports on Form 10-Ok, as could also be supplemented or amended by the Company’s Quarterly Reports on Form 10-Q. The Company assumes no obligation to replace or complement forward-looking statements that grow to be unfaithful due to subsequent occasions, new data or in any other case.

About Marathon Digital Holdings
Marathon is a digital asset expertise firm that mines cryptocurrencies with a deal with the blockchain ecosystem and the technology of digital property.

Marathon Digital Holdings Company Contact:
Jason Assad
Telephone: 678-570-6791
Email: [email protected]

A photograph accompanying this announcement is on the market at

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