Bitcoin miner Marathon Digital (MARA) experienced some production impacts in May, citing energization delays in Texas along with ongoing maintenance issues in Montana.
Marathon was originally informed by host Compute North that energization of its miners at its West Texas facility would begin in April. That was then delayed to May, and as of June 8, energization has yet to take place. At issue, says Marathon, is a tax matter for Compute North’s energy supplier. Marathon expects the situation to be resolved in June.
CEO Fred Thiel says – in addition to its active fleet – new miner installation continues, with more than 19,00 rigs installed and awaiting energization.
The Texas delays along with ongoing maintenance issues at the company’s Hardin, Montana facility caused Marathon to produce about 47% less bitcoin than what was initially expected based on the networks’ hash rate in May.
Despite a recent industry trend of some miners selling some of their crypto holdings to help fund operating costs and/or expansion, Marathon continues to hodl, noting it hasn’t sold any bitcoin since October 2020. As of June 1, the company held about 9,941 bitcoin worth $315.1 million on its balance sheet.
Read more: Marathon Digital ‘Cautiously Optimistic’ About Meeting Early-2023 Hashrate Guidance as Delays Continue
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