Marathon, a Nasdaq Listed Agency, Purchases 10,500 Next Generation Bitcoin Miners for $ 23 Million | Zoom Fintech
One of the first cryptocurrency mining companies listed on the Nasdaq, Marathon Patent Group, has introduced a brand new settlement agreement with ASIC mining producer Bitmain. According to the mainstream company, Marathon has agreed to buy 10,500 next-generation Antminer S-19 Professional models for $ 23 million.
Marathon Patent Group is set to be the largest bitcoin mine in the United States, and its current acquisition of hundreds of next-gen mining rigs could help bolster that goal. On Friday, Marathon introduced a long-term deal with Bitmain Applied Sciences, as it agreed to buy 10,500 new S-19 Antminers from the company.
The latest S-19 Professional collection claims to offer 110 terahash per second (TH / s) per unit and is possibly the most interesting bitcoin miner available on the market right now. Merrick Okamoto, head of government for Marathon, informed the general public that the acquisition was a milestone for the agency.
“The execution of this contract with Bitmain represents a milestone for our company,” said Okamoto. “This investment should make Marathon one of, if not the largest, bitcoin miners in North America.”
The latest order will upgrade the company’s web equipment to around 13,520 bitcoin mining rigs. Marathon bought 500 professional S-19 miners in mid-June and late July, Marathon bought 700 M31S + Whatsminers from Microbt and 660 other platforms from Bitmain.
Okamoto continued, “Today’s news follows recent gradual business growth with the purchase of what is now expected to total 13,520 next-generation miners generating 1.55 exahash (EH / s) once installation complete. “
The shares of mining companies have been in the throes of late, with more public companies like Marathon, Riot Blockchain and Hut8 having seen their shares rise significantly in value. Bitcoin mining stocks may be getting a lot more publicity lately than in previous years. There are Canaan, Ebang, Hut8, Marathon, Riot, Hive, OTC, MGT, DPW, Argo, DMG, etc. There are currently 14 listed mining companies and all of them have shares that can be bought publicly.
Regardless of delays in mining shipments, Marathon said “1,360 miners have been delivered” to the agency’s internet hosting facility. “We are delighted to have provided Marathon with the latest generation of Bitmain’s Antminer S19 Pro mining hardware,” Bitmain government member Irene Gao said on Friday.
“[Antminers are] Equipped with the most advanced chipset currently available, the high performance and low power consumption of the miners will significantly improve the operations of the Marathon mining business. This collaboration continues to strengthen our cooperation and will extend to future work together as Marathon expands its presence in the mining industry, ”Gao concluded.
What do you think Marathon Patent Group buys 10,500 professional S-19 miners? Tell us in the comments section below.
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