Marathon BTC Miner Acquires 30,000 Antminers for $120M

Marathon BTC Miner Acquires 30,000 Antminers for $120M

Crypto mining is one extremely active attribute giving rise to exciting news every day in the crypto industry. Among them, the fight for Bitcoin (BTC) mining is on a high scale too. Amidst all the allegations put forth and crypto regulations all posing hurdles for operations of these crypto mining firms, many still succeed though legally. 

Marathon’s Latest Purchase

Marathon Digital Holdings Inc is basically a digital assets company focused majorly on generating digital assets and developing blockchains. It is in fact the largest crypto mining firm in America though. However, Marathon Digital Holdings rose to fame upon their effortless Bitcoin (BTC) mining. Now, it’s the largest Bitcoin (BTC) miner and generator for North America. 

In spite of all this, Marathon looks forward to increasing its productivity and so its latest purchase took the crypto mining industry on fire. Accordingly, Marathon has purchased 30,000 AntMiner S19j Pro (100 TH/s) from Bitmain. Also, this purchase approximates to about $120.7 million.

Furthermore, the delivery of these 30,000 Antminers will be divided into partial deliveries though. However, the first delivery will be by June 2022. 

Besides, after the delivery gets completed, Marathon is estimated to possess nearly 133,000 AntMiner crypto mining machines. And so, with this Marathon could mine about 13.3 EH/s with all machines working. 

Consequently, the CEO of Marathon, Fred Thiel states that by increasing their hash rate overall will propel them to mine more BTCs. In addition, the CEO puts that the crypto mining industry is now in an appealing state overall. This being a great opportunity to mine more and add new miners to their platform.

Also, Marathon reveals that with this purchase their overall crypto productivity will rise nearly more than 30%.  This is to make Marathon the leading BTC miner in the overall U.S.

Regarding Bitmain

Bitmain Technologies is a Chinese crypto mining firm headquartered in Beijing. Bitmain is specialized efficiently in designing and producing integrated circuit chips mostly application-oriented for Bitcoin (BTC)  mining. 

Their top tier and the most famous crypto miner is the AntMiner has been effortlessly successful. 

Upon the recent purchase by Marathon from Bitmain, it’s a sign of their long-term relationship and partnership, as Marathon has been Bitmain’s customer for years.

Indeed, the Sales Director of the America region of Bitmain, Irene Gao states Marathon has been a key customer for Bitmain. Also, the sales director extends their appreciation towards Marathon upon their latest purchase. Also, Bitmain puts forth that they will continuously be in support of Marathon upon the large order of 30,000 of their most powerful crypto miners.

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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.