What's Going On With Bitcoin Mining Stock Marathon Digital Wednesday?

Bitcoin BTC/USD miner Marathon Digital Holdings Inc MARA on Wednesday released a production and mining operations update.

What Happened: Marathon Digital mined 705 Bitcoin in September, up 5% from August. The company's total Bitcoin holdings were 26,842 at the end of the month after opting not to sell any Bitcoin in September.

Marathon won 207 blocks last month, up 6% compared to August. The company said its energized hash rate increased 5% month-over-month to 36.9 EH/s in September. Marathon noted that it remains on track to reach its target of 50 EH/s by the end of the year.

“In September, the strength of our globally diversified operations was evident as we achieved significant uptime and increased our energized hash rate to 36.9 EH/s, reflecting 5% growth from August,” said Fred Thiel, chairman and CEO of Marathon Digital.

“Block wins during the month increased 6% from August while BTC production grew 5% to 705 BTC. We are proud to have surpassed a marathon worth of bitcoin HODL in September and currently have almost 27,000 BTC on our balance sheet.”

See Also: Why Bitcoin’s ‘Uptober’ Won’t Be A Smooth Ride: It’s The Election, Silly

Marathon said it became the first publicly traded digital asset compute company to submit a disclosure to the Climate Disclosure Project. The company noted that the submission reinforces its commitment to environmental transparency and corporate responsibility.

“Our team continues to quickly energize our owned sites and operate them more efficiently than originally planned. The conversion of our Granbury data center from air cooled to MARA’s immersion containers is progressing on time and we expect this work to be completed before year end,” Thiel added.

MARA Price Action: Marathon Digital shares were down 0.93% at $14.93 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.