Marathon
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RECENT: đ° #Marathon Digitalâs Fred Thiel explains how #Bitcoinâ can be used to offset the $35T US national debt and how nation states will be competing over $BTC power projection as a sovereign reserve #assets âïž
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#USNonFarmPayrollReport #DOGSONBINANCE
Bitcoin Mining Down 9% Amid âRecord Highâ Temperatures: Marathon Digital
CryptosHeadlines.com - The Leading Crypto Research Network
Marathon Digital cites scorching Texas heat for a 9% drop in August Bitcoin mining. Yet, they mined over five times more Bitcoins than last year during the same period. The company also faces a lawsuit alleging false financial statements.
Marathon Digital, a Bitcoin mining company, says that the drop in Bitcoin production in August was mainly because it was too hot in Texas, which forced them to reduce their mining activities.
Decline in Production Linked to Weather
Marathon Digitalâs CEO, Fred Thiel, says they mined 1,072 Bitcoins in August, which is more than five times what they mined in August last year. However, itâs 9% less than what they mined in July. The reason for this drop compared to July is the extremely hot weather at their Bitcoin mining site in Texas.
Marathon Digitalâs US Operational Highlights. Source:Â GlobeNewsWire
The report mentioned that temporary shutdowns canceled out the progress they made in boosting their operations.
Marathon Digital says they have 13,286 Bitcoins, worth about $341.9 million at the current Bitcoin price of $25,734.
They also sold 750 Bitcoins in August, which is around $193 million. They plan to keep selling some of their Bitcoin holdings in the coming months to cover their expenses.
On September 1, it was reported that Bitcoin miners started selling a significant amount of Bitcoin from their reserves over the past week. They began this selling spree on August 26 when the Bitcoin price dropped below $26,000.
The data shows that Bitcoin miners sold around 4,000 BTC in the past week.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #cryptomarket #Marathon #BitcoinMining
Marathon Digital cites scorching Texas heat for a 9% drop in August Bitcoin mining. Yet, they mined over five times more Bitcoins than last year during the same period. The company also faces a lawsuit alleging false financial statements.
Marathon Digital, a Bitcoin mining company, says that the drop in Bitcoin production in August was mainly because it was too hot in Texas, which forced them to reduce their mining activities.
Decline in Production Linked to Weather
Marathon Digitalâs CEO, Fred Thiel, says they mined 1,072 Bitcoins in August, which is more than five times what they mined in August last year. However, itâs 9% less than what they mined in July. The reason for this drop compared to July is the extremely hot weather at their Bitcoin mining site in Texas.
Marathon Digitalâs US Operational Highlights. Source:Â GlobeNewsWire
The report mentioned that temporary shutdowns canceled out the progress they made in boosting their operations.
Marathon Digital says they have 13,286 Bitcoins, worth about $341.9 million at the current Bitcoin price of $25,734.
They also sold 750 Bitcoins in August, which is around $193 million. They plan to keep selling some of their Bitcoin holdings in the coming months to cover their expenses.
On September 1, it was reported that Bitcoin miners started selling a significant amount of Bitcoin from their reserves over the past week. They began this selling spree on August 26 when the Bitcoin price dropped below $26,000.
The data shows that Bitcoin miners sold around 4,000 BTC in the past week.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #CryptoNews #cryptomarket #Marathon #BitcoinMining
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Marathon Digital introduced the Anduro platform based on the Bitcoin blockchain
For sidechains on the Anduro platform, merged mining is used, that is, miners will have the opportunity to receive additional profit from processing transactions. According to Marathon Digital CEO Fred Thiel, Anduro will allow the company to generate income from commissions.
Marathon Digital is already developing the first two sidechains on Anduro. The Coordinate sidechain is designed to provide a cost-effective stack for members of the Ordinals community. The Alys sidechain is being created as a protocol for tokenizing cryptocurrency assets.
Previously, Marathon Digital Holdings set a new monthly record by extracting 1,853 bitcoins in December. This is 56% more than in November and 290% more than in December of the year before.
#Write2Earn #Marathon #Bitcoinï»ż #TrendingTopic #Write2EarnâŹ
$BTC
For sidechains on the Anduro platform, merged mining is used, that is, miners will have the opportunity to receive additional profit from processing transactions. According to Marathon Digital CEO Fred Thiel, Anduro will allow the company to generate income from commissions.
Marathon Digital is already developing the first two sidechains on Anduro. The Coordinate sidechain is designed to provide a cost-effective stack for members of the Ordinals community. The Alys sidechain is being created as a protocol for tokenizing cryptocurrency assets.
Previously, Marathon Digital Holdings set a new monthly record by extracting 1,853 bitcoins in December. This is 56% more than in November and 290% more than in December of the year before.
#Write2Earn #Marathon #Bitcoinï»ż #TrendingTopic #Write2EarnâŹ
$BTC
đđđ»đČ đźđŽ, đźđŹđźđ°
đBREAKING : Jesse Powell, co-founder of Kraken đ°, donated $1M mainly in #Ether , to Donald Trump's đșđž presidential campaign in 2024.
đJULY : $755M in #Crypto tokens set to unlock in July as vesting periods end for over 40 projects.
đJUST IN: â«ïž VanEck filed VanEck Solana Trust.
đJUST IN : Bitcoin đ° mining company #Marathon has expanded into mining Altcoins, starting with the token $KAS.
đJUST IN : UFC partners with Blockasset to launch first ever digital fan experience on $SOL .đ°
đJUST IN : Solana đ° spot ETFs could potentially surge the price of $SOL by 9x - GSR Markets.
đNEW : Political memecoin $BODEN down 40% following presidential debate between Trump and Biden.
đBREAKING : Jesse Powell, co-founder of Kraken đ°, donated $1M mainly in #Ether , to Donald Trump's đșđž presidential campaign in 2024.
đJULY : $755M in #Crypto tokens set to unlock in July as vesting periods end for over 40 projects.
đJUST IN: â«ïž VanEck filed VanEck Solana Trust.
đJUST IN : Bitcoin đ° mining company #Marathon has expanded into mining Altcoins, starting with the token $KAS.
đJUST IN : UFC partners with Blockasset to launch first ever digital fan experience on $SOL .đ°
đJUST IN : Solana đ° spot ETFs could potentially surge the price of $SOL by 9x - GSR Markets.
đNEW : Political memecoin $BODEN down 40% following presidential debate between Trump and Biden.
Corporate companies' interest in Bitcoin mining is increasing. âïžđȘđ°
Marathon Digital Holdings (NASDAQ: MARA) is leading the charge among publicly traded Bitcoin mining companies. Despite the upcoming block subsidy halving in April, institutional investors are increasingly betting on Marathon, signaling a significant shift in sentiment towards Bitcoin mining.
Institutional investors now hold a substantial 38.9% of Marathonâs outstanding shares, totaling 104,212,740 shares out of 268 million.
Notable investors such as Vanguard, BlackRock, Jane Street, Morgan Stanley, and State Street collectively own 22.7% of Marathon Digital Holdings.
With a market capitalization of $5.58 billion, Marathon is spearheading the Bitcoin mining sector, experiencing a remarkable year-over-year gain of 146.69%, with its stock closing at $20.87 per share on March 22.
đčBitcoin Halving and Mining Companies:
Bitcoin undergoes a block subsidy halving approximately every four years, directly impacting mining revenue.
Currently, over 98% of Bitcoin block rewards come from the subsidy, averaging 900 BTC issued daily.
The halving could potentially halve mining revenue if Bitcoinâs price remains constant, affecting companies like MARA whose stock may correlate with Bitcoinâs price movements.
đčInfluence of Institutional Investors and Future Outlook:
The substantial ownership stake by institutional investors in Marathon indicates a bullish outlook on Bitcoinâs future price trajectory.
Wall Streetâs increasing involvement in Bitcoin mining companies suggests a deepening influence over Bitcoinâs security and consensus mechanism.
Despite revenue challenges posed by the halving, institutional support implies a positive long-term outlook for Bitcoinâs price.
#BTC #mining #Marathon #MarathonDigitalHoldings #marathondigital
Marathon Digital Holdings (NASDAQ: MARA) is leading the charge among publicly traded Bitcoin mining companies. Despite the upcoming block subsidy halving in April, institutional investors are increasingly betting on Marathon, signaling a significant shift in sentiment towards Bitcoin mining.
Institutional investors now hold a substantial 38.9% of Marathonâs outstanding shares, totaling 104,212,740 shares out of 268 million.
Notable investors such as Vanguard, BlackRock, Jane Street, Morgan Stanley, and State Street collectively own 22.7% of Marathon Digital Holdings.
With a market capitalization of $5.58 billion, Marathon is spearheading the Bitcoin mining sector, experiencing a remarkable year-over-year gain of 146.69%, with its stock closing at $20.87 per share on March 22.
đčBitcoin Halving and Mining Companies:
Bitcoin undergoes a block subsidy halving approximately every four years, directly impacting mining revenue.
Currently, over 98% of Bitcoin block rewards come from the subsidy, averaging 900 BTC issued daily.
The halving could potentially halve mining revenue if Bitcoinâs price remains constant, affecting companies like MARA whose stock may correlate with Bitcoinâs price movements.
đčInfluence of Institutional Investors and Future Outlook:
The substantial ownership stake by institutional investors in Marathon indicates a bullish outlook on Bitcoinâs future price trajectory.
Wall Streetâs increasing involvement in Bitcoin mining companies suggests a deepening influence over Bitcoinâs security and consensus mechanism.
Despite revenue challenges posed by the halving, institutional support implies a positive long-term outlook for Bitcoinâs price.
#BTC #mining #Marathon #MarathonDigitalHoldings #marathondigital
đ„đ„đ„ #Marathon Digital Posts $200 Million Quarterly Loss Amid #BitcoinMining Sector Woes
Marathon Digital Holdings Reports Significant Q2 Loss Amid Bitcoin Halving Impact
#Q2 Financial Performance
- Marathon Digital Holdings reported a substantial Q2 net loss of $199 million ($0.72 per share), up from a $9 million loss in Q2 2023. The loss was attributed to the Bitcoin halving event, which reduced transaction processing rewards by half, and operational challenges. Marathonâs share price dropped 7.8% to $18.14 amidst a broader tech stock decline.
Contributing Factors
- A $148 million fair market value drop in digital assets was a major factor. Analysts had predicted an EPS of -$0.19, but Marathon missed this by $0.53. EPS measures profit per share, with higher values indicating better profitability.
Operational Challenges
- Bitcoin production decreased by 30% to 2,058 $BTC due to the halving, increased global hash rates, and equipment failures. CEO Fred Thiel noted issues at the Ellendale site and intensified competition but mentioned remediation efforts and achieving a record-high hash rate of 31.5 exahash per second.
Revenue Growth and Challenges
- Revenue rose by 78% to $145 million due to a higher average Bitcoin price and new hosting services. However, lower production volumes and fair value losses offset these gains.
Industry-Wide Impact
- Marathon's challenges reflect broader industry trends, with Riot Platforms also reporting significant losses and decreased Bitcoin production following the halving event.
Source - decrypt.co
#CryptoTrends2024 #BinanceSquareTalks
Marathon Digital Holdings Reports Significant Q2 Loss Amid Bitcoin Halving Impact
#Q2 Financial Performance
- Marathon Digital Holdings reported a substantial Q2 net loss of $199 million ($0.72 per share), up from a $9 million loss in Q2 2023. The loss was attributed to the Bitcoin halving event, which reduced transaction processing rewards by half, and operational challenges. Marathonâs share price dropped 7.8% to $18.14 amidst a broader tech stock decline.
Contributing Factors
- A $148 million fair market value drop in digital assets was a major factor. Analysts had predicted an EPS of -$0.19, but Marathon missed this by $0.53. EPS measures profit per share, with higher values indicating better profitability.
Operational Challenges
- Bitcoin production decreased by 30% to 2,058 $BTC due to the halving, increased global hash rates, and equipment failures. CEO Fred Thiel noted issues at the Ellendale site and intensified competition but mentioned remediation efforts and achieving a record-high hash rate of 31.5 exahash per second.
Revenue Growth and Challenges
- Revenue rose by 78% to $145 million due to a higher average Bitcoin price and new hosting services. However, lower production volumes and fair value losses offset these gains.
Industry-Wide Impact
- Marathon's challenges reflect broader industry trends, with Riot Platforms also reporting significant losses and decreased Bitcoin production following the halving event.
Source - decrypt.co
#CryptoTrends2024 #BinanceSquareTalks
Bitcoin miner #Marathon Digital just bought $100 million worth of $BTC and will adopt a #HODL strategy given macro tailwinds and institutional support.
#marathondigital #MarathonDigitalHoldings #TrendingTopic
#marathondigital #MarathonDigitalHoldings #TrendingTopic
Marathon Digital Secures $300M Through An Oversubscribed Offering Of Convertible Senior Notes.
The Proceeds Were Used To Purchase 4,144 $BTC, Valued At Approximately $249M, Boosting Their Strategic Bitcoin Reserve To Over 25,000 BTC.
Marathon - $MARA Continues To Strengthen Its Position In The Crypto Space.
#MarathonDigitalHoldings #Marathon #marathondigital #LowestCPI2021 #BinanceLaunchpoolTON
The Proceeds Were Used To Purchase 4,144 $BTC, Valued At Approximately $249M, Boosting Their Strategic Bitcoin Reserve To Over 25,000 BTC.
Marathon - $MARA Continues To Strengthen Its Position In The Crypto Space.
#MarathonDigitalHoldings #Marathon #marathondigital #LowestCPI2021 #BinanceLaunchpoolTON
Shareholders Take Legal Action Against Marathon Digital's CEO and Executives
Shareholders Take Legal Action Against Marathon Digital's CEO and Executives
Introduction: In a recent development, Marathon Digital, a prominent cryptocurrency mining company based in the United States, is facing a lawsuit from shareholders. The lawsuit alleges that CEO Fred Thiel and other top executives have breached fiduciary duties and misused company resources. The legal action, filed in the US District Court for the District of Nevada, names ten Marathon officials as defendants and brings forward five claims, including unjust enrichment and violations of the US Securities Exchange Act.
Background: Marathon Digital has been served with a subpoena by the Securities and Exchange Commission (SEC) in relation to transactions with related parties during the construction of its facility in Montana. This legal investigation by the SEC has played a significant role in triggering the shareholders' lawsuit.
Shareholders' Allegations: The plaintiffs in the lawsuit are seeking accountability from Marathon Digital's CEO and executives, accusing them of various wrongdoing that has negatively impacted the company. The claims include breaching fiduciary duties, wasting company resources, and violating the US Securities Exchange Act. The shareholders' legal team has not specified a specific monetary demand at this stage.
Board Restructuring Proposal: In addition to the legal action, the shareholders are aiming to improve the company's governance by proposing changes to the board structure. They suggest the appointment of at least four shareholders as board members, with the intention of eliminating the previous practice of electing directors. This proposal is a proactive measure to ensure better oversight and decision-making within Marathon Digital.
Potential Defendants: Among the defendants sought by the plaintiffs are CEO Fred Thiel and three other individuals, who are alleged to be responsible for actions leading to the SEC's lawsuit against the corporation. The specific details of their involvement have not been disclosed publicly at this time.
Hello, it's CryptoPatel here!
Passionate about providing you with the latest insights and analysis on cryptocurrencies. Join me for high-quality updates on the ever-evolving crypto world.
If you enjoy my content, please show your support by liking, sharing, and following. Let's stay connected for exciting updates!
#GOATMoments #Marathon #Scam #Bitcoin #Mining
$BTC $BNB $SOL
Introduction: In a recent development, Marathon Digital, a prominent cryptocurrency mining company based in the United States, is facing a lawsuit from shareholders. The lawsuit alleges that CEO Fred Thiel and other top executives have breached fiduciary duties and misused company resources. The legal action, filed in the US District Court for the District of Nevada, names ten Marathon officials as defendants and brings forward five claims, including unjust enrichment and violations of the US Securities Exchange Act.
Background: Marathon Digital has been served with a subpoena by the Securities and Exchange Commission (SEC) in relation to transactions with related parties during the construction of its facility in Montana. This legal investigation by the SEC has played a significant role in triggering the shareholders' lawsuit.
Shareholders' Allegations: The plaintiffs in the lawsuit are seeking accountability from Marathon Digital's CEO and executives, accusing them of various wrongdoing that has negatively impacted the company. The claims include breaching fiduciary duties, wasting company resources, and violating the US Securities Exchange Act. The shareholders' legal team has not specified a specific monetary demand at this stage.
Board Restructuring Proposal: In addition to the legal action, the shareholders are aiming to improve the company's governance by proposing changes to the board structure. They suggest the appointment of at least four shareholders as board members, with the intention of eliminating the previous practice of electing directors. This proposal is a proactive measure to ensure better oversight and decision-making within Marathon Digital.
Potential Defendants: Among the defendants sought by the plaintiffs are CEO Fred Thiel and three other individuals, who are alleged to be responsible for actions leading to the SEC's lawsuit against the corporation. The specific details of their involvement have not been disclosed publicly at this time.
Hello, it's CryptoPatel here!
Passionate about providing you with the latest insights and analysis on cryptocurrencies. Join me for high-quality updates on the ever-evolving crypto world.
If you enjoy my content, please show your support by liking, sharing, and following. Let's stay connected for exciting updates!
#GOATMoments #Marathon #Scam #Bitcoin #Mining
$BTC $BNB $SOL
