Marathon Digital mines 979 bitcoin in June, down 21% M/M

Marathon Digital ( NASDAQ: MARA ) produced 979 bitcoin ( BTC-USD ) in June, down 21% M/M and up 599% Y/Y, and increased its average BTC production per day by 32.6%. The cryptocurrency miner increased its operational hash rate by 16% M/M to 17.7 EH/s and increased its installed hash rate by 8% M/M to 21.8 EH/s. As of June 30, Marathon ( MARA ) held 12,538 bitcoin ( BTC-USD ), worth ~$382M, and had unrestricted cash and cash equivalents of $114M. The company opted to sell 700 BTC during June and intends to sell a portion of its bitcoin ( BTC-USD ) holdings in future periods to support monthly operations, manage its treasury, and for general corporate purposes. The miner's JV in Abu Dhabi began mining operations and is on track for the full 7.0 EH/s to be online before year-end. In June, about 18,500 of Marathon's ( MARA ) miners (c. 2.5 EH/s) were newly energized at Applied Digital's facilities in North Dakota. Marathon's ( MARA ) operating fleet increased to about 149,900 BTC miners in June. "The decreased production relative to last month was due to weather-related curtailment in Texas and a significant decrease in transaction fees, which fell to ~5.1% of the total BTC we earned in June compared to 11.8% in May," said Fred Thiel, Marathon's ( MARA ) chairman and CEO. More on Marathon Digital: Marathon Digital: A Promise Keeper With A Few Cons Marathon Digital Could Benefit From ETF Talks Marathon Digital appoints Salman Khan as CFO Marathon Digital: Look Out Below If Bitcoin Breaks Down