With a record purchase of Bitcoin miners, Marathon Digital will increase its hashrate by 600 percent.

By early 2023, the Las Vegas-based miner intends to have 199,000 active miners producing 23.3 exahashes.

Marathon Digital is buying a record number of Bitmain Antminer S19 XP (140 TH/s) bitcoin miners, according to the Nasdaq-listed MARA.

• Headquartered in Las Vegas The sale was the largest single order of Antminer S19 XP bitcoin miners ever from Bitmain, according to Marathon, in terms of exahashes per second (EX/s) the new machines will create.

• Marathon intends to have 199,000 active miners generating 23.3 EH/s by early 2023, up 600 percent from present levels, according to the business, which verified this to CoinDesk.

• By mid-2022, the fast-growing miner expects to have 133,000 operating miners generating 13.3 EH/s, up from 133,000 in September.

• Marathon has 31,000 operating miners as of December 1, generating 3.2 EX/s.

• Marathon Digital’s stock was up over 12% in Thursday trade at the time of publishing.

• Marathon has made many major acquisitions of miners this year, and in October it received a $100 million revolving line of credit in bitcoin and US dollars through Silvergate Bank. The financing will be used to fuel bitcoin mining operations and purchase new equipment, according to the miner.

• “We were uniquely positioned to place the largest single order of S19 XPs, in terms of total hash rate, Bitmain has ever received,” Marathon CEO Fred Thiel said in a statement. “Given the strength of our balance sheet and our asset-light model, which allows us to invest our capital in mining machines rather than infrastructure, we were uniquely positioned to place the largest single order of S19 XPs, in terms of total hash rate, Bitmain has ever received.”

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Article Credits –
coindesk.com

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