On December 9, Nasdaq-listed cryptocurrency mining company, Marathon Patent Group, announced that the company is purchasing 10,000 Antminer S-19j Pro units from Chinese mining manufacturer Bitmain. According to Marathon, after acquiring the next generation of bitcoin miners, the company will have a total of 33,560 ASIC miners with up to 3.56 exahash (EH / s) hashpower.
Marathon Patent Group, Inc. (NASDAQ: MARA) is partnering with Bitmain again to purchase another 10,000 application-specific integrated circuits (ASIC) bitcoin miners. In addition to the recent purchase, Marathon has noted that it is also expanding its business and is currently partnering with energy producer Beowulf Energy.
Marathon describes that, with the help of Beowulf Energy, it plans to open a new “renewable energy data center” in the Northeastern United States. According to the announcement, Beowulf plans to supply Marathon with 100 (MW) megawatts of energy and the option to upgrade to 250 MW.
Marathon says 6,000 S-19j Pro miners will be shipped in August 2021 and the final 4,000 will be delivered to the company’s Montana facility. After Bitmain closes the deal, Marathon’s Hardin Montana data home will be maximized with a consumption level of 100 MW.
The company says the Big Horn County bitcoin mining facility will host a total of 33,560 ASIC bitcoin miners at 3.56 exahash per second SHA256 hashrate. Merrick Okamoto, the Chairman and CEO of Marathon, explained that the company is delighted to have met the maximum requirements of the Hardin data house in Montana.
“We are delighted to have successfully completed the purchase of all ASIC Miners required to fully utilize our 100 MW data center in Hardin MT,” said Okamoto. We now look forward to our next phase of growth as we build our second data center. The new facility will be primarily powered by clean, renewable energy, which will not only be cost effective, but will also enable us to reduce our carbon footprint. “
Okamoto further added:
Currently, we believe the cost of operating our second facility will be comparable to the industry-leading rates we have in our Hardin facility: $ 0.028 per kWh for power and $ 0.006 per kWh for hosting operations.
At current bitcoin prices, and if the electricity cost is really around $ 0.028 per kWh at the Hardin facility, then any ASIC bitcoin miner with a hashrate between 80 and 100 terahash will be over $ 8.50 or more per day per unit. With the Bitcoin network’s current difficulty at 19.16T and current unit market prices, Marathon’s Hardin facility at 3.56EH / s can seemingly 14.5 BTC per day, using current estimates and figures from the average of 33,000+ 80TH / s machines.
Marathon has tried to capture a lion’s share of the hashrate from the western side of the world, but the company is also competing with top companies such as Hut8 and Riot Blockchain also.
Bitmain’s Antminer Sales Director of North, Central and South America (NCSA), Irene Gao, says the company envisions further partnerships with Marathon Patent Group. “We are delighted to have provided Marathon with an additional 10,000 of Bitmain’s latest generation Antminer S-19j Pro mining hardware,” Gao said Wednesday. “This alliance remains mutually beneficial, and we look forward to working with Marathon further and helping them maintain their leadership position in the Bitcoin mining industry,” she added.
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