Marathon Digital announces purchase of 30,000 Bitcoin miners

Marathon Digital announces purchase of 30,000 Bitcoin miners

The North American Bitcoin mining company has bought Antminer S19j Pros from the Beijing-based company Bitmain

Crypto mining company Marathon Digital Holdings announced yesterday that it is acquiring another 30,000 mining machines for $120.7 million. The miners in question are Antminer S19j Pros with a maximum hash rate of 100 Th/s and have been bought from blockchain hardware and solutions company Bitmain.

Bitmain’s Antminer Sales Director of North, Central and South America, Irene Gao, commented, “Marathon is a key customer of Bitmain’s, and we appreciate the opportunity to support their growth with another large order for 30,000 of the industry’s most powerful and efficient miners. We look forward to continuing to collaborate and build upon this mutually beneficial relationship.”

Bitmain is headquartered in Beijing, but with the continuing crackdown by Chinese authorities on cryptocurrency trading and mining, there has been a mass exodus of Chinese miners and hardware to friendlier jurisdictions such as Russia, Kazakhstan and the US.

According to the Cambridge Bitcoin Electricity Consumption Index, the amount of mining power concentrated in China has been gradually falling in recent years. While China’s share of the hash rate was more than three quarters in September 2019, it had fallen to a little more than two thirds in September 2020 and just 46% in April 2021. Meanwhile, the share of the hash rate concentrated in the US has been growing over the same period, from about 4% to almost 17%.

Marathon is one of North America’s largest enterprise Bitcoin mining companies and already has a fleet of about 20,000 Bitmain S19s. It is also in the process of receiving 100,000 miners which should be fully delivered by early 2022, having been purchased last year.

Bitmain is expected to ship the latest batch of 30,000 machines between January and June 2022, and once all purchased miners have been deployed, Marathon should be able to achieve a hash rate of about 109 EH/s, which represents about 12% of the total hash rate of the Bitcoin network as of 1 August 2021.

CEO of Marathon, Fred Thiel, said, “Increasing our percentage of the total network’s hash rate increases our probability of earning bitcoin, and given the uniquely favorable conditions in the current mining environment, we believe it is an opportune time to add new miners to our operations. With this new order, we are growing our operations by 30% to approximately 133,000 miners, producing 13.3 EH/s. As a result, once all miners are fully deployed, our mining operations will be among the largest, not just in North America, but globally.”

The post Marathon Digital announces purchase of 30,000 Bitcoin miners appeared first on The Home of Altcoins: All About Crypto, Bitcoin & Altcoins | Coinlist.me.

  • Bitcoin
  • Ethereum
  • Tether
  • Cardano
  • Polkadot
  • Binance coin
  • Dogecoin
Scan to Donate Bitcoin to 194astnfvj2nr6izGJFwG9ebRqNU7ynQYY

Donate Bitcoin to this address

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Ethereum to this address

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Tether to 0xe5853a1d08b3ea0bb69276b0e40cdf858968d822

Donate Tether to this address

Scan the QR code or copy the address below into your wallet to send some Tether

Scan to Donate Cardano to DdzFFzCqrhsu1xWeeGai3gbgsbrFP26zPaVrCJqqF286carQJmAkTitRQSUCLhYLpKCotroRRNpKj7YcnAJQqpSfsHHdj8nUaitPvH4j

Donate Cardano to this address

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Polkadot to 155rGKVEanCxpi5EqGh8yh1AkGpm6bVUa7RQNydA38KzbhNu

Donate Polkadot to this address

Scan the QR code or copy the address below into your wallet to send some Polkadot

Scan to Donate Binance coin to bnb136ns6lfw4zs5hg4n85vdthaad7hq5m4gtkgf23

Donate Binance coin to this address

Scan the QR code or copy the address below into your wallet to send some Binance coin

Tag/Note:- 105346725
Scan to Donate Dogecoin to DKN9sscVgSBVyG7f9PYJq2D3BhWK5ffUmK

Donate Dogecoin to this address

Scan the QR code or copy the address below into your wallet to send some Dogecoin


Credit: Source Link

Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
WP Twitter Auto Publish Powered By : XYZScripts.com