On December 28, the public company Marathon Patent Group announced the purchase of 70,000 Antminer S19 Bitcoin miners from Bitmain for $ 170 million. Marathon expects shipments to be completed in 2021 and is preparing to provide over one hundred thousand ASIC miners or more than ten hash power to the mining operation.

 

They bought 70 thousand mining equipment for 170 million dollars

Marathon Patent Group, Inc. (NASDAQ: MARA) announced that the company has devoted a lot of capital to the Bitcoin mining industry. On Monday, Marathon announced one of its largest purchases of mining equipment to date, as it purchased 70,000 Antminer S19 Bitcoin miners from Bitmain. The acquisition will cost $ 170 million, according to Marathon’s statement on Monday morning.

The company estimates that the first delivery will take place by July 2021 and the final shipment will take place in the last month of next year. Marathon says the company currently commands a fleet of 33,000 miners, and the final acquisition will triple the size of the operation.

They will dominate more hash power

The company also purchased 10,000 ASIC miners in the first week of December 2020. Merrick Okamoto, president and CEO of Marathon, announced that the acquisition will maximize the company’s 100MW data house located in Montana.

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After the newly purchased 70,000 S19 miners are fully deployed, Marathon said the company will command 103,000 ASIC miners with 10.36 exahash (EH / s) per second.

Bitmain’s Antminer North, Central and South America (NCSA) sales director Irene Gao said that this significant acquisition will serve the interests of both companies. “We’re excited to have Bitmain win this record-breaking purchase contract from Marathon,” Gao said in the announcement. said.

Bitmain manager added:

Marathon has quickly become our largest customer and our partnership continues to benefit both companies mutually.

Merrick Okamoto, CEO of Marathon, believes that the 70,000 ASIC miner order is one of the biggest deals in the Bitcoin mining industry.

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