Marathon, one of the leading Bitcoin mining companies in North America, announced that it has reached a new purchase agreement with Bitcoin mining machine manufacturer Bitmain. This transaction will allow them to obtain a number of undisclosed Antminer S19 XP models, which can provide 140 TH/s speed while being more efficient than previous iterations. Marathon hopes to receive 199,000 miners by early 2023.

Marathon continues to acquire miners

Marathon Digital Holdings is one of the largest Bitcoin mining companies in the world. Announce Today it signed a new purchase agreement with Bitmain. The agreement will allow the company to acquire multiple mining machines next year to expand its computing power capacity. The machine purchased is Antminer S19 XPs, which is one of the latest mining machines developed by a Chinese manufacturer, capable of providing 140 TH/s of mining power while being more energy-efficient than its predecessors.

Although the manufacturer did not explain how many mining machines it has ordered in this new agreement, it does estimate that with the batch of new mining machines expected to be shipped between July 2022 and December 2022, it will have More than 199,000 mining machines will produce 23.3 EH computing power by 2023. Marathon CEO Peter Thiel said that this will increase its capacity by 600% compared to the current computing power. He further elaborated and pointed out:

Given the strength of our balance sheet and asset-light model, which allows us to invest in mining machines instead of infrastructure, we are in a unique position, in terms of total hash rate, our largest single transaction in S19 XP In terms of orders, it is in a leading position, and Bitmain has received it.

Growing year

This announcement ended a year of growth, in which Marathon continued to provide miners for its facilities across the United States.Last August, the marathon Report The purchase of 30,000 S19j Pro mining machines, also from Bitmain, at the time the company estimated that this batch would increase its existing mining capacity by 13 EH/s. The cost of this batch of mining machines is 120 million U.S. dollars.

In addition, earlier this month, the company Announce In the transaction with Compute North, it has secured hosting services for more than 100,000 miners, which will also enable them to use renewable energy such as solar and wind energy to power most miners.

Company even Conveyed It had planned to raise $500 million in senior notes in November to buy Bitcoin or more Bitcoin mining machines.

What do you think of the latest transaction between Marathon and Bitmain? Tell us in the comments section below.

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He described himself late and entered the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency boom at the social level, he offers a different perspective on the success of cryptography and how it can help people without bank accounts and underserved people.

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