Marathon Digital Holdings, a Bitcoin mining firm, has managed to offset lower Bitcoin prices with increased production and a price protection approach.

The company's CEO, Fred Thiel, revealed in an interview that Marathon reduced its net loss from $12.9 million in Q1 2022 to $7.2 million in Q1 2023. The firm reported a quarterly record of 2,195 BTC mined over the first three months of the year.

Marathon is also investing in foreign partnerships, including a joint venture with digital assets' infrastructure Zero Two to create a large-scale Bitcoin mining facility in Abu Dhabi.