7 months ago
Bitcoin mining and exertion steadfast Marathon Digital reported grounds maturation successful a fig of categories successful its 2023 annual net report.
The steadfast besides revealed the improvement of a Layer-2 web for Bitcoin called Anduro to physique upon the flagship crypto’s ecosystem.
Marathon president and CEO Fred Thiel said:
“2023 was a record-breaking twelvemonth for Marathon, during which we achieved our superior objectives of energizing our fleet of antecedently purchased mining rigs and optimizing our performance.”
According to the firm’s equilibrium sheet, it mined a grounds 12,852 Bitcoin implicit the people of 2023 and had a full of 15,126 BTC connected its equilibrium expanse arsenic of Dec. 31, 2023.
Record earnings
Marathon’s 2023 gross grew 229% twelvemonth implicit twelvemonth to $387.5 cardinal from $117.8 cardinal successful 2022.
The company’s nett income for the twelvemonth stood astatine a grounds $261.2 cardinal versus a nett nonaccomplishment of $694 cardinal successful the erstwhile year. Meanwhile, nett income for the 4th fourth of 2023 stood astatine $151.8 million.
Diluted EPS for the twelvemonth was $1.06.
As of Dec. 31, 2023, Marathon held $357.3 cardinal successful unrestricted currency and currency equivalents positive 15,126 BTC successful unrestricted Bitcoin — equating to a combined full worthy of $997.0 cardinal astatine the time.
The institution besides acquisition important maturation successful its operations.
Marathon’s energized hash complaint roseate to 24.7 EH/s successful 2023 from 7.0 EH/s successful 2022, marking a maturation complaint of 253%.
Additionally, its fleet ratio improved by 21% to 24.5 joules per terahash and the steadfast expanded its operations to 900 megawatts of full capacity. Marathon present operates 11 abstracted facilities crossed 3 continents.
Bitcoin Layer-2 Anduro
Marathon claims that Anduro volition let the instauration of aggregate Bitcoin sidechains and service arsenic a programmable exertion layer.
Marathon said it is presently processing the archetypal 2 Anduro-based sidechains: Coordinate, aimed astatine the Ordinals community, and Alys, an Ethereum-compatible concatenation for organization plus tokenization.
Both sidechains tin beryllium developed further by open-source contributors, Marathon noted.
The institution added that Anduro sidechains volition marque usage of a process called merge-mining. This allows participating miners, including Marathon, to gain gross from Anduro sidechain transactions denominated successful Bitcoin portion simultaneously mining connected Bitcoin’s basal layer.
The announcement of the sidechain represents a notable displacement to Bitcoin improvement from Marathon, which has chiefly focused connected Bitcoin mining since its inception.
The station Marathon posts grounds maturation successful 2023 earnings, unveils Bitcoin Layer-2 Anduro appeared archetypal connected CryptoSlate.
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