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Marathon Sets Bitcoin Production Record, Celsius Unstaking Its Ether Holdings

Jan 5, 2024
Author
Tom Couture
Tom Couture AC
Market Update Markets are responding to various economic data releases, which showed the unemployment rate holding steady at 3.7% vs. 3.8% exp., and U.S. ISM Services PMI coming in at 50.6 vs 52.5 exp. The DXY (-0.25%) initially surged over $103 following the employment data but has dropped to $102.2 following the PMI data release. Equity indices are gaining to end the week, with the SPY and QQQ both rising approximately 0.10%. Crypto investors are patiently waiting for news regarding potential Bitcoin ETF approvals, as some expect news today, while most anticipate early next week. $BTC (-1.72%) is trading near $43.3k and $ETH (-2.05%) is holding around $2220. Altcoins are generally underperforming this week as Bitcoin’s dominance ratio ($BTC.D) has gained 3% amid heightened ETF anticipation, potentially setting the stage for a Bitcoin-led rally post-approval. Marathon Digital has set a new record for its monthly Bitcoin production, mining 1,853 Bitcoin in December, representing a 290% increase year-over-year. At current prices, that equates to over $81 million. Marathon stated in its announcement, “We believe this to be the highest monthly total ever recorded by a public Bitcoin mining company,” surpassing Core Scientific’s previous record of 1,527 Bitcoin mined in Ja

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