Publicly Listed Bitcoin Miner Marathon Buys 30,000 Mining Rigs From Bitmain

On Monday, publicly listed bitcoin mining firm Marathon Digital Holdings announced that it has purchased 30,000 S19j Pro Antminers from Bitmain. According to the company, once the new mining rigs are fully deployed, Marathon will receive 13.3 exhash per second (EH/s) from the newly added machines.

Marathon buys 30K miners for $120 million

On August 2, Marathon Digital Holdings, Inc. (Nasdaq: Mara) revealed that the bitcoin mining company has acquired 30,000 S19j Pro Antminers. Depending on the model, the S19j Pro processes SHA256 hashrate at a rate of around 100 to 104 Terahash per second. Using a single S19j Pro machine today B T c Prices, current mining difficulty, and electricity at $0.12 per kilowatt-hour (kWh), could yield gains of $29 per day. According to the announcement, the cost of the machines for the entire lot is approximately $120.7 million.

Marathon says it expects to deliver all 30,000 newly purchased miners between January 2022 and June 2022. This time frame shows that lead times for newly produced mining rigs from today’s top manufacturers can be significantly longer. Marathon says it will get 13.3 EH/s and “more than 133,000 bitcoin miners” owned by the company once the rig is fully deployed.

“If all of Marathon’s miners were deployed today,” the mining firm’s announcement details, “the company’s hash rate would represent approximately 12% of the total hashrate of the bitcoin network, which was approximately 109 EH/s as of August 1, 2021. “

Marathon CEO Thinks It’s Right Time to Add New Miners to the Firm’s Fleet

Marathon CEO Fred Thiel stressed during the announcement that he thinks this is the right time to buy a mining rig. Thiel said, “Increasing our percentage of the total network hash rate increases our chances of earning bitcoin, and given the uniquely favorable conditions in the current mining environment, we believe it will be a good time to add new miners to our operations.” It’s an opportune time.” Marathon CEO said:

“With this new order, we are expanding our operations by 30% to approximately 133,000 miners, producing 13.3 EH/s. As a result, once all miners are fully deployed, our The mining operations will be the largest not only in North America, but globally.”

The number of bitcoin miners is increasing in North America. Companies like Marathon, Riot, Hut8, Galaxy Digital, Hive Blockchain, Anker, Argo Blockchain, AtNorth, Bit5ive LLC, Bitfarms, Bitfury, Bitquest, Compute North, Core Scientific, and more are buying a lot of mining rigs over the past year. have been . Marathon settled the record-breaking mining rig acquisition in December 2020, when the firm purchased 70,000 bitcoin miners from Bitmain.

What do you think about Marathon buying 30,000 bitcoin miners from Bitmain? Let us know what you think about this topic in the comment section below.

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$120M, 30K miners, 70k miners, Antminer, Antminer S19, ASIC miners, Bitcoin miners, Bitmain, BTC miners, Marathon, Merrick Okamoto, miners buy, NASDAQ: MARA, North America, S19 miners

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