Marathon’s Bitcoin Production Fell in November Due to Maintenance Work on Power Plant

Marathon Dig­i­tal Hold­ings mined less bit­coin in Novem­ber than in the pre­vi­ous month as main­te­nance and upgrades to its Hardin, Mon­tana, facil­i­ty led to a reduc­tion in its hashrate capac­i­ty. The min­er pro­duced 196 BTC last month, while Octo­ber had yield­ed 417.7 new coins; Marathon now holds about 7,649.1 bit­coin with a fair mar­ket val­ue of approx­i­mate­ly $437.4 million.

“While these upgrades caused our min­ers in Hardin to oper­ate below capac­i­ty in Novem­ber, which neg­a­tive­ly impact­ed our bit­coin pro­duc­tion for the month, we believe they were nec­es­sary in the near-term and will be ben­e­fi­cial in the long-run,” Marathon’s CEO Fred Thiel said in a state­ment Friday.