Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner

Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner

Nasdaq-listed Marathon Patent Group is buying 10,000 of the more efficient Antminer S19 Pro bitcoin miners from Bitmain in a deal worth millions of dollars.

▪ Marathon said the deal would boost the company’s operations to 23,560 next-generation miners, “making it the largest self-miner in North America”.

▪ When fully installed, the new machines will bring the firm’s total hashrate to 2.56 exahash per second (EH/s) – one of the world’s top 15 bitcoin miners.

▪ In August, Marathon bought another 10,500 miners of the same make for $23 million. Bitmain will deliver all the miners in batches starting in January through June.

▪ Marathon CEO Merrick Okamoto said the company’s mining operations had continued to grow “against the backdrop of recently increasing bitcoin prices.”

▪ The latest purchase comes just two weeks after Marathon, an $81.6 million-valued company, announced a joint venture agreement that reduces its electricity costs for extracting bitcoin by 38%.

▪ Shares of Marathon rose nearly 11% to $2.82 in pre-trading on Tuesday. Over the past 52 weeks, the stock touched a high of $5.25 and a low of $0.35.

What do you think about Marathon’s ambitions? Let us know in the comments section below.

The post Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner appeared first on Bitcoin News.

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