Marathon Reports 26% Growth in November Bitcoin Production 📈
Marathon Digital reported a 26% increase in Bitcoin production for November, reaching a total of 907 BTC mined. This growth is attributed to the company's expanded hash rate, which rose by 15% to a total of 46.1 exahashes per second (EH/s) during the month.
To support its Bitcoin acquisition strategy and corporate activities, Marathon has up-sized its convertible note offering from $700 million to $850 million. This strategic financial move aims to strengthen its purchasing power for Bitcoin and enhance its overall market position.
Currently, Marathon holds a total of 34,959 BTC, valued at approximately $3.3 billion, positioning it as the second-largest holder of Bitcoin, right after MicroStrategy. The company is committed to using its financial proceeds to further bolster its Bitcoin acquisitions while supporting various corporate initiatives.
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