Marathon Patent Agrees to Buy 70K ASIC Miners From Bitmain for $170M
Marathon Patent Agrees to Buy 70K ASIC Miners From Bitmain for $170M
Nasdaq-listed Marathon Patent Group (MARA), one of the largest enterprise bitcoin mining companies in North America, said it’s entered into a contract with Bitmain to purchase 70,000 Antminer S-19 ASIC miners for $170 million, more than tripling the size of Marathon’s fleet.
- “This purchase is the largest order in dollar terms as well as the single largest order for S-19 ASIC miners that Bitmain has ever received,” said Marathon Chairman and CEO Merrick Okamoto.
- Marathon said it sees receiving an initial batch of 7,000 S-19 miners in July 2021 and the final shipment in December 2021.
- Once all miners are fully deployed, Marathon said its mining fleet will consist of more than 103,000 miners capable of producing 10.36 EH/s.
- The announcement comes after a holiday weekend in which the price of bitcoin hit a succession of new all-time highs.
This story is developing and will be updated.
