Marathon mining company settled its loans, maintaining a positive balance

According to statements from the BTC miner, it paid off the outstanding loans it received in the form of revolving lines of credit. After all payments, 12,232 BTC remained on the balance, as well as $103.7 million.

Marathon Digital uses mined coins as collateral when borrowing funds. After a high payment of $30 million, the number of free bitcoins was 7,815.

According to Marathon CEO Fred Thiel, the company aims to remain resilient and reduce risk in a challenging economic environment:

Continued uncertainty at the macroeconomic level has led us to decide to close credit line commitments.

It should be noted, that against the background of other miners, Marathon Digital looks relatively confident and continues to develop its business. For example, Argo Blockchain announced the sale of its largest facility in December, while Compute North and Core Scientific are experiencing difficulties.

According to Marathon’s plans, the hashrate will increase from 7 to 23 Eh/s in 2023.