1 year ago
On Tuesday, Marathon Digital Holdings, a starring bitcoin mining institution listed connected nationalist markets, revealed its acquisition of 2 afloat operational bitcoin mining facilities, representing a combined capableness of 390 megawatts (MW). For these facilities, Marathon invested a full of $178.6 cardinal successful cash, averaging $458,000 per MW.
Marathon Boosts Mining Capacity Ahead of Bitcoin Halving
Marathon‘s (Nasdaq: MARA) strategical enlargement includes the acquisition of 2 bitcoin mining locations successful Texas and Nebraska, antecedently owned by Generate Capital subsidiaries. This determination marks Marathon’s modulation from an “asset-light organization” to 1 possessing a important portfolio of mining operations. The acquired sites supply a important 390 MW of power, with the acquisition amounting to $178.6 million, paid wholly successful cash.
Marathon anticipates that this acquisition volition alteration its bitcoin find costs by 30% implicit time. The announcement connected Tuesday says the company’s strategy involves leveraging its existing capableness for its mining infrastructure, enhancing its hashrate, and streamlining operational efficiency. Currently, Marathon has committed to acquiring miners with a full capableness of 7 exahash per 2nd (EH/s), with the archetypal installment expected to beryllium delivered and installed by January 2024.
“By acquiring the sites successful Granbury, Texas and Kearney, Nebraska from Generate, we person an accidental to trim our bitcoin accumulation costs astatine these sites, to capitalize connected vigor hedging opportunities, and to grow our operational capacity,” said Fred Thiel, Marathon’s president and CEO. The Marathon main added:
This transaction increases the size of our bitcoin mining portfolio by 56% from 584 megawatts to 910 megawatts of capacity, and it besides provides america with a roadmap to treble our existent operational hash complaint to astir 50 exahashes implicit the adjacent 18-24 months.
The second fractional of 2023 has seen important maturation successful the mining industry, arsenic miners cogwheel up for the anticipated 2024 Bitcoin halving event. Major mining companies person been actively purchasing oregon pre-ordering thousands of next-generation application-specific integrated circuit (ASIC) bitcoin mining machines from starring manufacturers specified arsenic Microbt and Bitmain.
What bash you deliberation astir Marathon purchasing 2 ready-to-mine bitcoin mining facilities? Share your thoughts and opinions astir this taxable successful the comments conception below.
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