Marathon, one of the leading bitcoin mining business in North America announced it has actually gone into a new purchase contract with Bitmain, a bitcoin mining device producer. This offer would enable them to obtain a concealed number of Antminer S19 XP designs, an ASIC capable of providing 140 TH/s while being more effective than its previous versions. Marathon hopes to host 199,000 miners by early 2023.
Marathon Keeps Buying Miners
Marathon Digital Holdings, one of the biggest bitcoin mining business on the planet, announced today it went into a new purchase contract with Bitmain. The contract will enable the business to get ahold of a number of mining devices to broaden its hashrate capability next year. The devices bought are Antminer S19 XPs, one of the most recent miners established by the Chinese producer, able to provide 140 TH/s of mining power while being more energy-efficient than its predecessors.
While the producer did not discuss the number of miners were bought in this new contract, it did approximate that with this new batch of miners, which are anticipated to ship in between July 2022 and December 2022, it will have more than 199,000 miners producing 23.3 EH of hashrate by 2023. This will make up a boost of 600% in its capability when compared to its present hashrate, according to Peter Thiel, CEO of Marathon. He even more elaborated, specifying that:
Given the strength of our balance sheet and our asset-light design, which permits us to invest our capital into mining devices instead of facilities, we were distinctively located to position the biggest single order of S19 XPs, in terms of overall hash rate, Bitmain has actually ever gotten.
A Year of Growth
This statement closes a year of development, in which Marathon has actually continuously protected miners for its centers all around the United States. Last August, Marathon reported the purchase of 30,000 S19j Pro miners, also from Bitmain, At that time, the business approximated that this batch would include 13 EH/s to its currently existing mining power. The expense of the miner batch was $120 million.
Furthermore, previously this month, the business announced it had actually protected hosting for more than 100K miners in a handle Compute North, that would also enable them to power most of these miners with renewables, consisting of solar and wind.
The business even interacted it had actually prepared to raise $500 million in senior notes to acquire bitcoin or more bitcoin mining devices in November.
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