Nasdaq-Listed Firm Marathon Buys 10,500 Next-Gen Bitcoin Miners for $23M

One of many earliest Nasdaq-listed cryptocurrency mining corporations, Marathon Patent Group, introduced a brand new settlement contract with the ASIC mining producer Bitmain. In response to the general public firm, Marathon has agreed to buy 10,500 next-generation Antminer S-19 Professional fashions for $23 million.

Marathon Patent Group needs to be the biggest bitcoin mine in the US and its latest acquisition of hundreds of next-generation mining rigs could assist fortify that objective. On Friday, Marathon introduced a long run settlement with Bitmain Applied sciences because it has agreed to buy 10,500 new S-19 Antminers from the corporate.

The most recent S-19 Professional sequence claims to supply 110 terahash per second (TH/s) per unit and is probably the most worthwhile bitcoin miner available on the market at the moment. Merrick Okamoto, Marathon’s Chief Government Officer instructed the general public the acquisition was a milestone for the agency.

“The execution of this contract with Bitmain represents a milestone occasion for our firm,” Okamoto stated. “This funding is anticipated to lead to Marathon being one in every of, if not the biggest, bitcoin miner in North America.”

The most recent order will enhance the corporate’s internet equipment to roughly 13,520 bitcoin mining rigs. Marathon bought 500 S-19 Professional miners in mid-June and on the finish of July, Marathon purchased 700 M31S+ Whatsminers from Microbt, and one other 660 rigs from Bitmain.

Okamoto continued, “Right this moment’s information comes on the heels of latest incremental enterprise development by way of the acquisition of what now could be anticipated to whole 13,520 next-generation miners producing 1.55 exahash (EH/s) upon full set up.”

Mining firm shares have been on a tear currently in addition to public companies like Marathon, Riot Blockchain, and Hut8 have seen shares enhance in worth considerably. There’s far more publicity to the bitcoin mining shares nowadays than years prior. There’s Canaan, Ebang, Hut8, Marathon, Riot, Hive, OTC, MGT, DPW, Argo, DMG, and extra. There are actually 14 publicly traded mining companies and all of which have shares that may be bought publicly.

Regardless of the delays in mining shipments, Marathon stated “1,360 miners have been delivered” to the agency’s internet hosting facility. “We’re happy to have offered Marathon with Bitmain’s newest era of Antminer S19 Professional mining ,” Irene Gao an govt at Bitmain stated on Friday.

“[Antminers are] geared up with probably the most superior chipset presently obtainable, the high-performance and low energy consumption of the miners will considerably enhance operations of Marathon’s mining enterprise. This collaboration continues to strengthen our cooperation and can prolong to future work collectively as Marathon expands its presence within the mining business,” Gao concluded.

What do you consider Marathon Patent Group buying 10,500 S-19 Professional miners? Tell us within the feedback part beneath.

Tags on this story
1.55 exahash, 110 Terahash, Antminer S-19 Professional, Argo, Bitcoin, Bitcoin mining, BTC, Canaan, DMG, DPW, Ebang, hive, Hut8, Marathon, Marathon Patent Group, Merrick Okamoto, MGT, Mining Shares, Next-Gen Miners, OTC, Riot

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