CRYPTONAIRE
WEEKLY CRYPTO investment journal
Marathon Buys More Antminers to Become Top US Bitcoin Miner
The purchase from Bitmain boosts Marathon’s capacity to 23,560 miners, after it earlier secured major reductions to its electricity costs. Marathon Patent Group bought 10,000 next-gen S-19 Pro Miners. The deal brings its total hashrate to 2.56 EH/s. The company believes the rise in Bitcoin price is favorable. Marathon Patent Group Inc., a leading self-mining firm in the Bitcoin space, has entered a contract with Bitmain to buy another 10,000 next-generation Antminer S-19 Pro ASIC Miners. Marathon said the agreement would give the company 23,560 miners, “making it the largest selfminer in the region with a total hashrate of 2.56 EH/s.” That would place it in the top 15 mining groups worldwide. The agreement marks the latest in a series of recent by Marathon to boost mining capacity, and comes at a time when the price of Bitcoin has seen a resurgence. “We entered into the transaction as a continuation of recently publicly announced initiatives, all of which we believe have the potential to result in value creation for our shareholders,” the company told Decrypt via email. “The rise in Bitcoin has certainly increased our confidence in our existing growth plans.” Read more...
Cryptonaire Weekly | October 27th 2020
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