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US-based Mining Firm Produces Bitcoin Worth $16 Million in January

Published 03/02/2023, 17:54
Updated 03/02/2023, 18:15
© Reuters.  US-based Mining Firm Produces Bitcoin Worth $16 Million in January

© Reuters. US-based Mining Firm Produces Bitcoin Worth $16 Million in January

  • Marathon Digital Holdings unearthed 687 BTC in January.
  • The coin represents a 45% increase from the 475 it mined in December 2022.
  • The company aims to become North America’s most prominent mining firm.

The US-based Bitcoin mining firm Marathon Digital Holdings started the year by producing a record number of Bitcoin (BTC) in January 2023.

According to an official statement from the company yesterday, Marathon has unearthed 687 BTC, representing a 45% increase from the 475 it mined in December 2022. Going by the current BTC price of $23,430.92, the 687 mined coins are equivalent to $16,097,042.

Fred Thiel, Marathon’s CEO, said the improvement in its Bitcoin production was primarily a result of the new hosting provider in McCamey, Texas. The hosting provider addressed the maintenance and technical issues at the King Mountain data center that had suppressed its production capacity since the fourth quarter of 2022.

Thiel also revealed that with the consistent increase in its mining operation, the company will sell some of the BTCs to cover operating expenses and for general corporate purposes. The CEO continued:

Even with these sales, our unrestricted…

The post US-based Mining Firm Produces Bitcoin Worth $16 Million in January appeared first on Coin Edition.

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