• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Changelly
  • Price table

Crypto News PRO

From the world all news

  • Home
  • News

Marathon Signs New $23M Contract With Bitmain for 10,500 Bitcoin Mining Rigs

Written by:
Aeon Flux
Published on:
15 August 2020
Thoughts:
No comments yet

Aug 14, 2020 at 10:57 UTCUpdated Aug 14, 2020 at 13:52 UTC

bitmainmoshed2

(CoinDesk archives, modified using PhotoMosh)

Marathon Patent Group has signed a purchase agreement with Chinese mining manufacturer Bitmain to drastically increase output with 10,500 new Antminer S-19 rigs at a total cost of $23 million.

  • The Nasdaq-listed mining company announced Friday the new order will see its bitcoin mining capacity quadruple from 3,020 units to over 13,520 rigs.
  • Only last month, Marathon agreed to purchase a total of 1,360 rigs – 660 S-19s as well as 700 rigs from rival manufacturer MicroBT.
  • The new rigs will be installed this weekend at the company’s facility in Quebec.
  • Having started expanding capacity in Q4 2019, the company says it expects the additional hashrate will make its mining facility a revenue-earning venture.
  • Bitmain plans to ship 1,000 previously purchased rigs to Marathon in October and November.
  • The deal means the Las Vegas-based Marathon will soon become one of the largest operators in the whole of North America, making up 1.2% of total hashrate on the Bitcoin network.
  • Marathon’s stock price was up over 12% to just under $4 at press time.

See also: Mining Firm Hut 8 Reports 28% Drop in Q2 Revenue Following Bitcoin Halving

Read more about…

MiningBitmainCoinFlashMarathon Patent Group

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Categories: Bitcoin, News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search in the news

Translate:

Earn up to 5% every 10 days with Aeon Flux Coins

Categories

  • Bitcoin (2,396)
  • Ethereum (1,614)
  • News (5,007)

Recent Posts

  • Interview with Ian Manson, Storyboarding and World Builder at JustAGame 6 May 2022
  • NFT Marketplace Development — The New Crypto Wave In The Digital Spectrum 6 May 2022
  • 5 Ways to Reduce your Credit Card Processing Fees 6 May 2022
  • 7 Things You Can do When the Crypto Market is Down to Not Lose Money 5 May 2022
  • The quintessential fixed-income instrument: the BOND 4 May 2022

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020

© 2015-2020 Crypto News PRO
All Rights Reserved. Powered by IWG Agenzia Web