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Cryptocurrency Stock News Bites: Marathon Patent Group (NASDAQ: $MARA) Announces Installation Of 1,360 Next Generation Miners, Increases Hashrate 130/ph Or 230%

Company Now Has 2,060 Miners In Operation Producing 186/ph And Owns 18,760 Miners That Will Produce 1.5 Exahash When All Miners Are Delivered And Deployed


August 25, 2020 ( Newswire) Blockchain Stock News Bites: Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon" or "Company") announced that it received 700 WhatsMiner M31S+ Miners from MicroBT and 600 S19 Pro Antminers from Bitmain. All 1,360 have been deployed at the Company’s Hosting facility with Compute North, and the new installations have increased the Company’s Hashrate by 130/Ph to 186/Ph.

Between May 19, 2020 and June 11, 2020, the Company announced the purchase of 1,000 additional S19 Pro Antminers. 500 of these units are scheduled to arrive in September and another 500 in December of this year. When received and deployed, these 1,000 S-19 Pro Miners will add an additional 110/Ph to the Company's production (from the 500 installed as a result of the September delivery) and December which will add an additional 153.4/Ph to the Company's production (from the 500 installed as a result of the December delivery), thus increasing total production to 296/Ph before year's end.

The Company expects to receive the first S19 Pro Antminers from the recently announced 10,500 Unit Long Term Purchase Agreement with Bitmain, beginning in January 2021 with final deliveries expected in June 2021. The addition of these 10,500 Miners will increase the Company's Hashrate production by 1,155/Ph. When all Miners are installed, the Company's total estimated aggregate Hashrate Production will approach approximately 1.5 Exahash.

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