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Bitcoin Mining Firm Marathon Buys Extra 10K Antminers

Bitcoin Mining Firm Marathon Buys Extra 10K Antminers

Bitcoin mining firm Marathon Patent Group announced that it has partnered with Bitmain to buy an additional 10,000 next-generation Antminer S-19 Pro application-specific integrated circuit (ASIC) Miners.

Bitmain will deliver the 10,000 Antminer S-19 Pro miners beginning in January 2021. Moreover, the firm will total 23,560 bitcoin mining units upon the delivery and installation of all purchased miners. Cumulatively, this will bring the total hashrate to 2.56 exahashes per second (EH/s).

Bitmain Sales Director Irene Gao said,

We are pleased to have provided Marathon with another 10,000 of Bitmain’s latest generation of Antminer S-19 Pro mining hardware…This collaboration continues to strengthen our cooperation and will extend to future work together.

The purchase comes just two weeks after Marathon announced a joint venture agreement with Beowulf Energy. Consequently, the collaboration will see Marathon build a Bitcoin mining and data hub close to Beowulf’s Hardin Generating Station.

Recently, Marathon purchased 10,500 miners of the same make for $23 million. This agreement allowed the firm to expand its operations to 13,520 next-generation miners.

Similarly, Riot Blockchain, a Nasdaq-listed crypto mining firm ordered 8,000 Bitmain Antminers S19 Pros in August. This includes a delivery schedule of 2,000 units on a monthly basis beginning in January 2021. Furthermore, Core Scientific, a US-based Bitcoin mining company, bought 17,000 Bitmain S19 Antminers.

Marathon is a Nasdaq-listed digital asset technology. It describes itself as the biggest publicly-traded self-mining firm with a $81.6 million valuation. On the other hand, Bitmain is the largest producer of specialized bitcoin mining hardware, which sells machines using its ASIC chip technology.

Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.