Marathon, one of the leading Bitcoin mining companies in North America, announced that it has signed a new purchase agreement with Bitmain, a manufacturer of Bitcoin mining machines. This deal would allow them to acquire an unknown number of Antminer S19 XP models, an ASIC that can deliver 140 TH / s while being more efficient than its previous iterations. Marathon hopes to house 199,000 miners by early 2023.
Marathon keeps buying miners
Marathon Digital Holdings, one of the largest Bitcoin mining companies in the world, announced today that it has signed a new sales agreement with Bitmain. The agreement will allow the company to acquire a number of mining equipment over the next year to expand its hashrate capacity. The machines purchased are Antminer S19 XPs, one of the newest miners from the Chinese manufacturer that can deliver 140 TH / s mining performance while being more energy efficient than its predecessors.
While the manufacturer did not explain how many miners were ordered in this new agreement, it did estimate that with this new batch of miners scheduled to ship between July 2022 and December 2022, more than 199,000 miners would be 23.3 EH of. will produce hashrate until 2023. According to Peter Thiel, CEO of Marathon, this will mean an increase in capacity of 600% compared to the current hashrate. He went on to state that:
Given the strength of our balance sheet and our asset-light model, which allows us to invest our capital in mining machines rather than infrastructure, we were uniquely positioned to take the largest single order of S19 XPs in terms of total hash Rate, bitmain, place has ever received.
A year of growth
This announcement completes a year of growth that Marathon has consistently attracted miners to its facilities across the United States. Last August, Marathon announced the purchase of 30,000 S19j Pro-Miners, also from Bitmain. At the time, the company estimated that this batch would add 13 EH / s to its existing mining performance. The cost of the miner’s batch was $ 120 million.
In addition, earlier this month the company announced that it had secured hosting for more than 100,000 miners under an agreement with Compute North that would also enable them to use most of those miners with renewable energy, including solar and wind take care of.
The company even announced that it had planned to raise $ 500 million in senior notes in November to purchase bitcoin or more bitcoin mining machines.
What do you think of Marathon’s latest deal with Bitmain? Let us know in the comments section below.
Sergio Goschenko
Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game when he entered the cryptosphere in December 2017. He has a computer engineering background, lives in Venezuela and is socially affected by the cryptocurrency boom about crypto success and how he is helping the non-banks and the underserved.
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