More about this
If compared with the same period last year, mining increased by 74%. This was due to an increase in the hashrate by more than 64%. The indicator reached 11.5 EH/s. At the same time, the downtime of devices was reduced.
In total, the balance of the miner company amounted to more than 11.46 thousand bitcoins. At the current exchange rate, this is about $314 million. The estimate of free cash and cash equivalents amounted to almost $ 125 million. The company's profit for the first quarter reached over $51 million.
The CEO of the company said that thanks to the tests for the stability of the crypto area, this year started off perfectly. The company was able to increase capacity with balance and reduce costs.
Recall that recently the general manager announced the ridding of the industry of dubious participants thanks to the cryptocurrency winter.
It also turned out that the companies sent a second subpoena from the SEC. This is due to the fact that an investigation is being conducted at the facility that Marathon owns. The first one was sent back in the fall of 2021.