Bitfarms and Marathon Digital Both Mined Over 3K BTC in 2021
Bitfarms (BITF) and Marathon Digital (MARA), two of the largest publicly-traded bitcoin miners, each announced on Monday that they had mined over 3,000 bitcoin in 2021.
Canadian-based Bitfarms produced 3,452 bitcoin for the year, while U.S.-based Marathon mined 3,197 bitcoin.
Bitfarms’ total holdings grew to over 3,300 bitcoin as of the end of the year, worth $151.8 million at current prices, while Marathon’s holdings increased to 8,133 BTC, worth roughly $375.8 million.
Most miners began holding onto the bitcoin they mined rather than selling them as the year went on due to the significant increase in bitcoin prices.
Bitfarms mined 363 bitcoin in December, compared to Marathon’s 484.5 for the month. But Bitfarms’ monthly production throughout the year was more consistent, while Marathon’s bitcoin production in November dipped to just 196 because upgrades to its power generation stations cut computing power.
Several of Bitfarms and Marathon’s rivals, including Riot Blockchain (RIOT), Hut 8 Mining (HUT) and Bit Mining (BTCM) have yet to release their 2021 mining totals.Source