Cryptocurrency Stock News Bites: Marathon Patent Group (NASDAQ: $MARA) Purchases an Additional 10,000 S-19J Pro ASIC Miners from Bitmain and Announces Plans to Open a Second Data Center
December 9, 2020 (Investorideas.com Newswire) Cryptocurrency Stock News Bites: Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin self-mining companies in North America, has entered into a contract with Bitmain to purchase 10,000 Antminer S-19j Pro ASIC Miners.
Under the terms of the agreement, Marathon will receive an initial batch of 6,000 S-19j Pro Miners in August 2021. The remaining 4,000 miners will be delivered in September 2021.
Once all of Marathon's purchased miners are delivered and fully deployed, the Company's mining portfolio will consist of 33,560 state of the art ASIC miners, generating 3.56 EH/s. As a result, the Company will be consuming approximately 100 MWs of power, the maximum amount available at the Company's data center in Hardin, MT.
To continue expanding its operations, the Company is working with its energy partner, Beowulf Energy, to open a renewable energy powered data center in the northeastern United States. This facility will initially provide Marathon with an additional 100 MWs of power and has the potential to increase to 250 MWs of power.
Marathon's chairman and chief executive officer, Merrick Okamoto, stated, "We are pleased to have successfully completed the purchase of all ASIC Miners required to fully utilize our 100 MW data center in Hardin MT. We are now looking forward to our next phase of growth as we build out our second data center. The new facility will be powered primarily by clean, renewable power, which is not only cost-effective, but will also allow us to lower our carbon footprint. Currently, we believe the costs to operate our second facility will be similar to the industry-leading rates we have at our Hardin facility: $0.028 per kWh for power and $0.006 per kWh for hosting operations."
Read the company's full news and disclaimer here:
Upon Delivery and Full Deployment, the Company's Mining Operations Will Include 33,560 State of the Art ASIC Miners, with a Total Hashrate of 3.56 EH/s
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