New 50 EH/s Target Represents Approximately 100% Growth in
Marathon began 2024 with approximately 24.7 EH/s energized and had been planning to grow its hash rate by approximately 46% to 35-37 EH/s by the end of the year. Based on current machine orders and available capacity following its recent acquisitions, Marathon now expects to grow its operations to approximately 50 EH/s by the end of 2024. The new target represents approximately 100% growth in hash rate during 2024 and is fully funded based on Marathon’s current liquidity position.
“Given the amount of capacity we have available following our recent acquisitions and the amount of hash rate we have access to through current machine orders and options, we now believe it is possible for us to double the scale of Marathon’s mining operations in 2024 and achieve 50 exahash by the end of the year,” said
Further information on Marathon’s plans for 2024 will be provided during the Company’s first quarter 2024 webcast and conference call, set for
Earnings Webcast and Conference Call Details
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Investor Notice
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended
Forward-Looking Statements
Statements made in this press release include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Risk Factors” in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
About
Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in
For more information, visit www.mara.com, or follow us on:
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Email: ir@mara.com
Marathon Digital Holdings Media Contact:
Email: marathon@wachsman.com
Source:
2024 GlobeNewswire, Inc., source