In an interview with Cointelegraph at the Bitcoin Conference, Fred Thiel explained Marathon's strategy for reducing its first-quarter net loss from $12.9 million in 2022 to $7.2 million in 2023.
over the first three months of the year, worth over $60 million at the time of writing. “We are now operating at somewhere of 14.0 [exhash/second ] hash rate, which is two times more than where we were at the end of last year," said Thiel about the 74% increase in production, claiming Marathon should achieve 23.0 EH/s in hash rate in the coming months.
Although Bitcoin’s price also affected the company’s quarterly results, Marathon managed to reduce its debt in March amid the banks collapsing in the United States. The mining firm
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