Marathon Digital Holdings, a digital asset technology company, mined a company-record 825 bitcoins in March and a total of 2,195 bitcoins in Q1, due to a 64% increase in operational hash rate. Marathon also energized 13,000 previously installed bitcoin miners at Applied Digital's North Dakota facility last month. The company reported an operating fleet of roughly 105,200 bitcoin miners, with a theoretical production capacity of 11.5 EH/s, and expects to report a mid-year mining capacity of 23 EH/s. Marathon reduced its debt by $50 million and increased its unrestricted bitcoin holdings by 3,132 bitcoin in Q1. However, its Q4 2022 revenue declined 58% YoY to $28.4 million, and its full-year revenue for 2022 declined 26% to $117.8 million, recording a net loss of $686.7 million last year.

(By Adam James)