Marathon Digital Holdings, Inc. Purchases 30,000 Antminer S19j Pro Bitcoin Miners from Bitmain for $120.7 Million
August 02, 2021 at 05:30 pm IST
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Marathon Digital Holdings, Inc. announced that it has entered into a contract with Bitmain to purchase an additional 30,000 Antminer S19j Pro (100 TH/s) miners for $120.7 million. Based on current delivery schedules, the company anticipates all 30,000 newly purchased miners to ship from Bitmain between January 2022 and June 2022. As a result, the company’s mining operations are expected to consist of more than 133,000 Bitcoin miners, producing approximately 13.3 EH/s once all miners are fully deployed and operational. If all of the company’s miners were deployed on August 2, 2021, the company’s hash rate would represent approximately 12% of the Bitcoin network’s total hash rate, which was approximately 109 EH/s as of August 1, 2021.
Marathon Digital Holdings, Inc. is a digital asset technology company, which is focused on supporting and securing the Bitcoin ecosystem. The Company is engaged in owning and operating bitcoin mining facilities or data centers, selling proprietary software or technology to third parties operating in the Bitcoin ecosystem, offering advisory and consulting services to support bitcoin mining ventures in domestic and international jurisdictions, and generating electricity from renewable energy resources or methane gas capture to power bitcoin mining projects. Its business is also active in Bitcoin-related projects related to the technological development of immersion, hardware, firmware, mining pools and side chains that use the blockchain cryptography. It operates approximately 210,000 mining rigs globally, with an installed and energized hash rate of approximately 25.2 and 24.7 exahashes per second, respectively. The Company has mined 12,852 bitcoins.