{"id":20175,"date":"2024-05-11T11:00:23","date_gmt":"2024-05-11T11:00:23","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20175"},"modified":"2024-05-11T07:32:41","modified_gmt":"2024-05-11T07:32:41","slug":"marathon-digital-reports-strong-q1-2024-mined-2811-bitcoin","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/marathon-digital-reports-strong-q1-2024-mined-2811-bitcoin\/","title":{"rendered":"Marathon Digital Reports Strong Q1 2024, Mined 2,811 Bitcoin"},"content":{"rendered":"<p>Marathon Digital, a Bitcoin mining company based in the United States, has also released its quarterly figures. The company mined 2,811 Bitcoin worth $176 million in the first three months of 2024. The company, which has $1.6 billion in liquidity, stated that it also holds Bitcoin in this amount.<\/p>\n<p><strong><a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-mining-giant-gets-major-boost-stock-soars\/\">Marathon Digital<\/a> Achieves 337% Profit Increase<\/strong><\/p>\n<p>Marathon Digital, a US-based Bitcoin mining company that was recently appointed by the Kenyan government as a consultant on cryptocurrencies and mining, made a profit of $337 million in the first quarter.<\/p>\n<p>According to the announced earnings report figures, Marathon, which mined 2,811 Bitcoin as of the first quarter of 2024, also increased its profit by 184% compared to the same period of the previous year. The company&#8217;s revenue also increased by 223% compared to the first quarter of 2023.<\/p>\n<p>The statement said, &#8220;With our recent acquisitions, orders and $1.6 billion in liquidity, we are targeting a hash rate of 50 exahash by the end of 2024.&#8221;<\/p>\n<p><strong>1\/4 of Bitcoin Sold<\/strong><\/p>\n<p>Marathon Digital also announced that it sold a quarter of the mined Bitcoin to cover operational costs. The company&#8217;s $1.6 billion capital includes cash, cash equivalents and Bitcoin.<\/p>\n<div id=\"gtx-trans\" style=\"position: absolute; left: 16px; top: -1.60938px;\">\n<div class=\"gtx-trans-icon\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Marathon Digital, a Bitcoin mining company based in the United States, has also released its quarterly figures. The company mined 2,811 Bitcoin worth $176 million in the first three months of 2024. The company, which has $1.6 billion in liquidity, stated that it also holds Bitcoin in this amount. Marathon Digital Achieves 337% Profit Increase<\/p>\n","protected":false},"author":1,"featured_media":18211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[61,307,3880],"class_list":["post-20175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-bitcoin-mining","tag-marathon-digital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marathon Digital Reports Strong Q1 2024, Mined 2,811 Bitcoin - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Marathon Digital, a Bitcoin mining company based in the United States, has also released its quarterly figures.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/marathon-digital-reports-strong-q1-2024-mined-2811-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marathon Digital Reports Strong Q1 2024, Mined 2,811 Bitcoin - 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