Marathon Digital Has Record Bitcoin Production, Trust Wallet Offering In-App Off-Ramp

Apr 5, 2023
Market Update Equity indices and US Treasury yields are declining today following a weak ADP payrolls data release, potentially indicating the US economy is heading for a slowdown. The $SPY and $QQQ have fallen 0.48% and 1.20%, respectively, while the US02Y and US10Y are approaching new 2023 lows. Crypto markets are mixed today, with $BTC (-0.54%) holding above $28k, and $ETH (+1.63%) breaking above $1900. MicroStrategy announced this morning that they have acquired an additional 1,045 bitcoin at an average price of $28,016, bringing the company’s total bitcoin holdings to 140,000 (~$4.17 billion). The latest purchase brings MicroStrategy’s total cost-basis down to $29,803 per bitcoin, bringing its breakeven point within an approximate 6% move.  Crypto mining company Marathon Digital released an update yesterday highlighting the company’s successful first quarter. Marathon produced a record 2,195 bitcoin in the first quarter, improving its operational hashrate by 64% quarter-over-quarter. The record bitcoin production represents a 74% increase compared to Q1 2022 and a 41% increase from Q4 2022. Marathon’s unrestricted bitcoin holdings rose to 11,466 bitcoin (326.5 million), improving 22% from a year earlier. In addition to Marathon’s operational progress, Marath

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