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Nasdaq-listed Marathon Patent Group is buying 10,000 more efficient Antminer S19 Pro bitcoin miners from Bitmain in a multi-million dollar deal.
▪ Marathon said the deal will increase the company’s operations to 23,560 next-generation miners, “making it the largest auto-miner in North America.”
▪ When fully installed, the new machines will bring the company’s total hashrate to 2.56 exahash per second (EH / s), one of the top 15 bitcoin miners in the world.
▪ In August, Marathon purchased an additional 10,500 miners of the same brand for $ 23 million. Bitmain will deliver all miners in batches from January to June.
▪ Marathon CEO Merrick Okamoto said the company’s mining activities continued to grow “against the backdrop of the recent rise in bitcoin prices.”
▪ The latest purchase comes just two weeks after Marathon, a $ 81.6 million company, announced a joint venture agreement that cuts electricity costs for bitcoin mining by 38%.
▪ Shares in Marathon were up nearly 11% to $ 2.82 in pre-trading on Tuesday. Over the past 52 weeks, the stock has hit a high of $ 5.25 and a low of $ 0.35.
What do you think of Marathon’s ambitions? Let us know in the comments section below.
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