Over $100 million left on Marathon Digital accounts after loan payments

Mining company Marathon Digital says it has fully repaid debts on revolving credit lines. After that, $103.7 million and over 7,800 BTC remained in her accounts. The company's bitcoins are used to secure loans, both revolving and non-recurring.. At the end of 2022, Marathon completely closed revolving credit lines, and remained with significant reserves of funds. The number of Bitcoins free from collateral was 7,815, and in total, 12,232 BTC are stored on the firm's wallets.. Approximately $30 million was disbursed. “Given the macroeconomic volatility that will continue into 2023, we have decided to fully eliminate our revolving loan obligations,” said Marathon CEO Fred Thiel. Against the backdrop of the crisis of other mining companies, Marathon is extremely confident. For example, data center operators Core Scientific and Compute North are in the process of bankruptcy, and Argo Blockchain is forced to sell its largest farm.. Marathon management continues to develop business. So, in November, a pilot project was launched to cool mining devices with liquid. Previously, Thiel said that thanks to the preservation of mined BTC, Marathon became the second largest public company in the world by the amount of stored bitcoins.. Now the hashrate of its equipment is 7 Eh/s, but by mid-2023 it is planned to increase it to 23 Eh/s.