Fri, May 24

Bitcoin Mining Firm Marathon Buys Additional 10,000 Antminers

Last Chunk of Bitcoin Left for Mining as Over 90% Already Mined Bitcoin News

Marathon Patent Group made an announcement that it has stepped into a contract with Bitmain to buy an additional 10,000 next-generation Antminer S-19 Pro ASIC Miners.

2021 Will Be a Year For Bitcoin Mining

Marathon, a Nasdaq-listed digital asset technology and biggest publicly traded self-mining firm. On the other hand, Bitmain is the largest producer of specialized bitcoin mining hardware. In addition, that sells machines using its application-specific integrated circuit (ASIC) chip technology.

The release of the new 10,000 S-19 Pro miners is scheduled to begin in January 2021. Moreover, the firm adds 23,560 next-generation miners, upon delivery and installation of all purchased miners. Thereby, bringing the total hashrate to 2.56 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.

Other orders of Bitmain S19 Antminers 

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 for $23 million. This agreement allowed the firm to expand its operations to 13,520 next-generation miners.

Similarly, Core Scientific, a US-based Bitcoin mining company, bought 17,000 Bitmain S19 Antminers. Furthermore, 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.

However, the demand for the latest mining equipment is outpacing supply significantly, and every firm is on a lengthy waiting list. It all bodes well for the security of Bitcoin, which relies on the Bitcoin hashrate. And with regular all-time highs, the Bitcoin hashrate is likely going to keep increasing.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.