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Marathon Digital Holdings Increases 2024 Hash Rate Target to 50 Exahash
Marathon began 2024 with approximately 24.7 EH/s energized and had been planning to grow its hash rate by approximately 46% to 35-37 EH/s by the end of the year. Based on current machine orders and available capacity following its recent acquisitions, Marathon now expects to grow its operations to approximately 50 EH/s by the end of 2024. The new target represents approximately 100% growth in hash rate during 2024 and is fully funded based on Marathon’s current liquidity position.
“Given the amount of capacity we have available following our recent acquisitions and the amount of hash rate we have access to through current machine orders and options, we now believe it is possible for us to double the scale of Marathon’s mining operations in 2024 and achieve 50 exahash by the end of the year,” said Fred Thiel, Marathon’s chairman and CEO. “With our current liquidity position, this growth target is also fully funded and there is no need for us to raise additional capital to achieve our objective. By deploying state of the art equipment and our own proprietary technology, we also believe that we can improve our fleet efficiency and approach 21 joules per terahash as we grow to 50 exahash.”
“ A wallet tagged as belonging to the U.S. government moved 30,175 bitcoins to what's reported to be a Coinbase wallet late Tuesday morning.
At bitcoin's (BTC) current price around the $65,000 level, that would be roughly $2 billion worth of the token. “
https://www.coindesk.com/markets/2024/04/02/silk-road-bitcoin-worth-2b-moved-by-us-government-on-chain-data/amp/
I still think Bitcoin is yet to bottom. Im thinking 58,000-60,000 before the next run up
https://pbs.twimg.com/media/GJIBPgbWkAApZLy?format=jpg&name=large
Matthew Schultz, co-founder of the mining firm CleanSpark, suggests that the most vulnerable are the British company Argo Blockchain and the American Hut 8 . After halving, the cost of bitcoin mining for these companies will be $62,276 and $60,360, respectively. At the same time, at current prices in the region of $40,000, only Bitdeer (Singapore) and its company CleanSpark (USA) will be able to support their business.
https://markets.businessinsider.com/news/stocks/why-the-fears-around-btc-miners-outflow-are-overestimated-by-bitget-s-gracy-chen-1033177506#:~:text=Matthew%20Schultz%2C%20co%2Dfounder%20of,be%20%2462%2C276%20and%20%2460%2C360%2C%20respectively.
Agreed Chaebol.
https://pbs.twimg.com/media/GIz9FpHXMAIc4hU?format=jpg&name=large
I’m all in on MARA (16$ average) & BTC($38K) - my price targets for MARA this bull run are 66$, 85$ & 100$+ if Bitcoin goes parabolic.. don’t rule out ridiculous market caps at the peak, take a look at doge coin 19.6B for a dog meme token. Good luck all
Grow “Argo 11.5p now - my lord if there is anyone still holding on and reading this ... please have a think about preserving at least some of your capital.”
Don’t like to say it as I try to avoid posting anything negative on a stock I don’t personally own as no reason to voice my opinion but in this situation I’d seriously think about moving my money into Mara or Clsk for the recovery play.
Mara up pre market.
https://robinhood.com/us/en/stocks/MARA/
Iamgibb..
They added shares. but quite a few big firms bought as well.
These are the main ones:
Vanguard: 23.47 million shares. Vanguard acquired 4.95 million shares during Q4.
BlackRock (NYSE:BLK): 17.19 million shares. BlackRock acquired 4.62 million shares during Q4.
Jane Street: 8.47 million shares. Jane Street acquired 6.82 million shares during Q4.
Morgan Stanley (NYSE:MS): 6.27 million shares. Morgan Stanley sold 728,441 shares during Q4.
State Street (NYSE:STT): 5.42 million shares. State Street acquired 236,322 shares during Q4.
I think Mara is just getting it self prepared for life post halving and wants a war chest available for strategic moves.
With the halving approaching these miners could be in trouble at current Bitcoin prices. This is why people are hesitant to invest in the “high risk” miners. Not bashing, just the truth. Got to think you’d need to see a 100K + coin before the likes of Argo, wulf, migi ect really move.
The safer bet is to buy Bitcoin itself. The next 10 years we will probably see a demand for it and we could see the “digital gold rush”. I mean after all It wasn’t the miners that got rich during the gold rush.
I did hold Argo but was a trade only. My moneys in MARA, BTC& ETH.
Clsk unable to hold because everybody is moving into Mara for the earnings report. Clsk at 20$ is 50% or so above its December peak, it’s been on a good run since the their earnings report.
If Mara was to report similar or better with Bitcoin above 60K.
40-45$ isn’t out of reach.
Good luck
Reddit Discloses Bitcoin and Ether Holdings in IPO Filing
The company also acquired ether and Polygon "as a form of payment for sales of certain virtual goods.”
https://www.coindesk.com/business/2024/02/22/reddit-discloses-holding-bitcoin-and-ether-in-ipo-filing/amp/
Yesterday the Spot Bitcoin ETF had its first negative day in 4 weeks' time.
https://pbs.twimg.com/media/GG8iHtFXIAAfmpQ?format=jpg&name=large
We might see some selling pressure..
Genesis received Judges bankruptcy approval to sell 1.6 Billion in crypto (over 1 Billion are shares in GBTC).
Next court date is 2/26 where the Judge will decide on whether these shares should be sold for cash or transferred to the creditors.
Doesn’t change much long term but maybe some turbulence in the coming weeks.