Bitcoin mining firm Marathon Digital produced 1,245 BTC in May, up 77% month-on-month

Bitcoin mining firm Marathon Digital has released an unaudited May update on Bitcoin production and mining operations. Among them, Marathon Digital produced 1,245 bitcoins in May, a month-on-month increase of 77% and a year-on-year increase of 366%. Year-to-date, its total bitcoin production is 4,141, and currently holds a total of 12,259 BTCs. Fred Thiel, chairman and CEO of Marathon, said that the increase in production was due to increased computing power combined with an increase in transaction fees, which accounted for 11.8% of the total bitcoin earned in May. In May, Marathon sold 554 BTC and intends to sell some of its Bitcoin holdings in the future to support monthly operations, manage its funds, and for general company purposes. At month-end, the company had $97.3 million in unrestricted cash and cash equivalents on its balance sheet. In May, Marathon Digital’s operational/powered computing power increased 9% month-on-month to 15.2 EH/s, and installed computing power increased 13% month-on-month to 20.1 EH/s. As of June 1, the number of bitcoin mining machines in operation at the company increased to 133,600. In addition, Brink, a funding agency for Bitcoin protocol developers, and Marathon Digital, a Bitcoin mining company, initiated a donation of US$1 million in May. contribution.