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Bitfarms and Marathon Digital Both Mined Over 3K BTC in 2021
The two publicly traded miners also held onto almost all the bitcoin they mined.
Bitfarms (BITF) and Marathon Digital (MARA), two of the world’s largest publicly traded bitcoin miners, each announced on Monday that they had mined more than 3,000 bitcoins in 2021.
- Canada-based Bitfarms produced 3,452 bitcoins during the year, and U.S.-based Marathon mined 3,197 bitcoins.
- Bitfarms’ total holdings grew to more than 3,300 bitcoins 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 it throughout the year because of the big increase in bitcoin’s price.
- Bitfarms mined 363 bitcoins in December, compared with Marathon’s 484.5 for the month. But Bitfarms’ monthly production throughout the year was more consistent. Marathon’s bitcoin production in November dipped to just 196 because upgrades to its power generation stations cut its computing power.
- Several of Bitfarms’ and Marathon’s rivals, including Bit Mining (BTCM), Hut 8 Mining (HUT) and Riot Blockchain (RIOT), have yet to release their 2021 mining totals.
Nelson Wang
Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.
