Marathon Digital Mines 673 Bitcoin in August, Hashrate Expands

Marathon Digital Mines 673 Bitcoin in August, Hashrate Expands

Marathon Digital Mines 673 Bitcoin in August New York, September 7, 2023 - Marathon Digital Holdings, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), a leading Bitcoin mining company in North America, today announced its unaudited bitcoin production and miner installation updates for August 2023. During August 2023, Marathon produced 673 bitcoins, a 3% decrease compared to July 2023 production of 691 bitcoins. Bitcoin production was impacted by the previously disclosed power curtailments in Texas caused by extreme weather conditions, as well as the Company's ongoing efforts to relocate miners to other facilities. The Company did not sell any bitcoin during the month. As of August 31, 2023, Marathon had approximately 35.2 EH/s of self-mining capacity, an 11% increase compared to the 31.8 EH/s reported as of July 31, 2023. The Company's hashrate increased due to the deployment of approximately 1,700 new miners in August, partially offset by the retirement of approximately 3,500 older generation miners. Marathon continues to focus on expanding its mining operations. The Company has previously announced plans to increase its hashrate to 13.3 EH/s by mid-2023 and 23.3 EH/s by the end of 2023. Marathon has also secured hosting agreements for over 100,000 miners, which it expects to deploy over the next several months.