08:34 AM EDT, 06/05/2024 (MT Newswires) -- Marathon Digital Holdings ( MARA ) said Wednesday it produced 616 bitcoins in May, down 51% from a year earlier and 27% lower compared with the output in April.

The firm said it had 17,857 BTC on its balance sheet, and combined cash and bitcoin holdings were about $1.5 billion as of May 31.

Marathon also said it increased its average operational hash rate by 22% in May to 25.7 exahash.

Shares of the company were up nearly 2% in recent Wednesday premarket activity.

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