Marathon Digital to make a record purchase of $879M for BTC miners

Marathon Digital to make a record purchase of $879M for BTC miners

Marathon Digital has quickly grown to be one of the top digital asset mining companies in the world. It has been consistently buying mining machines to improve its hashrate which stands at 2.96 EH/s as of November 2021.

However, the company is looking to spice up the figures after announcing a significant purchase of Antminer S19 XP bitcoin miners from Bitmain, a digital asset mining machine provider. Announcing the move on Wednesday, Marathon is purchasing 78,000 mining machines from Bitmain which will be delivered to the miner in the course of one year.

“Marathon Patent Group (the “Company”) executed a contract with Bitmain to purchase an additional 78,000 next generation Antminer S-19 XP Miners, with 13,000 units being delivered in each of July 2022, August 2022, September 2022, October 2022, November 2022, and December 2022,” the company said in documents filed to the SEC.

Marathon has executed the deal by purchasing the machines for a whopping $879,060,000, which will be paid in multiple installments.

The deal was first announced by the mining company on December 23. At the time, the company did not disclose the exact number of machines or the sum of purchase. However, it noted that the purchase will increase the company’s hashrate by more than 23 Exahash, which is 600% higher than its current contribution.

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