Marathon Digital predicts 600% rise in hashrate after purchasing BTC miners

Marathon Digital predicts 600% rise in hashrate after purchasing BTC miners

Popular Bitcoin-mining company Marathon Digital Holdings announced Thursday that it has purchased a record number of ANTMINER S19 XP (140 TH/s) bitcoin miners from Bitmain.

While the company did not disclose how many machines it has purchased, it has said its 199,000 bitcoin miners will produce approximately 23.3 EH/s, which is about seven times higher than its current hash rate. The figures are 75% higher than what it predicted during its financial reports in Autumn.

Fred Thiel, Marathon’s CEO, said in the announcement:

“With 23.3 EH/s of total capacity expected to be online in early 2023 and ample access to renewable power behind the meter with one of the largest renewable energy providers in North America, we believe we have established Marathon as one of the leading bitcoin miners in North America and potentially the largest known miner in the world.”

Nasdaq-listed Marathon shares jumped by 12% after the announcement and were priced at $38.13 at the time of writing.

Source

Subscribe to get our top stories