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

Nasdaq-listed Marathon Patent Group is shopping for 10,000 of the extra environment friendly Antminer S19 Professional bitcoin miners from Bitmain in a deal price tens of millions of .

▪ Marathon mentioned the deal would increase the corporate’s operations to 23,560 next-generation miners, “making it the most important self-miner in North America”.

▪ When totally put in, the brand new machines will deliver the agency’s complete hashrate to 2.56 exahash per second (EH/s) – one of many world’s prime 15 bitcoin miners.

▪ In August, Marathon purchased one other 10,500 miners of the identical make for $23 million. Bitmain will ship all of the miners in batches beginning in January by means of June.

▪ Marathon CEO Merrick Okamoto mentioned the corporate’s mining operations had continued to develop “in opposition to the backdrop of just lately rising bitcoin costs.”

▪ The newest buy comes simply two weeks after Marathon, an $81.6 million-valued firm, introduced a three way partnership settlement that reduces its electrical energy prices for extracting bitcoin by 38%.

▪ Shares of Marathon rose almost 11% to $2.82 in pre-trading on Tuesday. Over the previous 52 weeks, the inventory touched a excessive of $5.25 and a low of $zero.35.

What do you consider Marathon’s ambitions? Tell us within the feedback part beneath.

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