Executive Summary
The Story So Far
Why This Matters
Who Thinks What?
Marathon Digital (MARA) reported a 4% month-over-month increase in Bitcoin production for September 2025, mining 736 BTC compared to 705 BTC in August. The company’s energized hashrate also saw a rise, reaching 60.4 EH/s as it completed key deployments and expanded operations.
Production Overview
The Bitcoin miner’s average daily production climbed to 24.5 BTC in September, up from 22.7 BTC in the previous month. This increase comes as the overall Bitcoin network hashrate also experienced a significant 9% rise from August.
Operational Expansion
Marathon’s energized hashrate grew 2% month-over-month, from 59.4 EH/s in August to 60.4 EH/s in September. The company attributed this growth to the full deployment of its Texas wind farm and the successful ramping of its Hannibal, Ohio site to 100% capacity, now operating with 86 MW online. An additional 14 MW is targeted for the Ohio site by year-end.
Fleet Performance and Holdings
Despite a brief weather-related downtime at its Garden City location, Marathon maintained a strong fleet uptime of 99% throughout September. As of September 30, 2025, the company held a total of 52,850 BTC, including loaned and pledged assets, an increase from 52,477 BTC held at the end of August.
Key Takeaways
Marathon Digital’s September production update highlights continued operational expansion and increased Bitcoin output, reflecting strategic deployments and robust fleet performance amidst a rising network hashrate.
