Abu Dhabi and Paraguay: Key Expansion Targets for Marathon Digital Holdings in Bitcoin Mining Growth Strategy

Marathon Digital Holdings achieved its highest monthly Bitcoin mining output ever in December 2021, mining 1,853 BTC and totaling 12,852 BTC for the year, valued at over $563.4 million, significantly surpassing its 2020 production. The company also saw an 18% monthly increase in its average operational hash rate, reaching 22.4 EH/s, and announced an additional 4% increase in its energised hash rate to 24.7 EH/s, making it the largest publicly traded Bitcoin miner in North America. Transaction fees played a significant role in December's accelerated Bitcoin production, with MaraPool collecting over 380 BTC in fees, accounting for 22% of production. Marathon has ambitious growth plans for 2024, targeting a 30% increase in energised hash rate and strategic acquisitions to improve its cost structure, including sites from Generate Capital, and expanding its operations in Abu Dhabi and Paraguay