Marathon, a bitcoin mining company, has announced that it has secured 254 megawatts new hosting deals. The option to increase this number to 324 megawatts is available. Marathon’s recent expansion deals will support the bitcoin mining company’s goal to secure approximately 23.3 exahash per Second (EH/s).
Marathon secures 254 MW Bitcoin mining capacity — Firm aims to have 23.3 EH/S in 2023
The publicly listed bitcoin miner marathon (Nasdaq MARA), has secured 254 MW hosting arrangements. There is also the possibility to add 324 MW from a few other hosting providers. This news comes after the outage Marathon in Montana in June, when a storm disrupted operations and took the company’s equipment offline.
Marathon will be able to achieve its 2023 goal of 23.3 exahash per seconds (EH/s), of processing power by securing 254 MW. Marathon’s CEO Fred Thiel stated Monday that the new arrangements have allowed them to secure enough hosting capacity to meet their target of 23.3 [exahash] per Second of bitcoin mining power in 2023. Thiel also added:
Each facility is currently under construction which is crucial for speeding up installations. Installations will ramp up at other locations during the fourth quarter and into 2023, as miners are expected to move in to these new arrangements.
Marathon strikes deals with Compute North, Applied Blockchain
Marathon and other bitcoin mining operations saw significant increase during Q4 2021. secured thousands next-generation bitcoin miners from manufacturers. However, BTC mining profits were much lower in 2022 and reports show that many bitcoin miners felt the pressure of lower TTC prices.
Luxor Technologies co-founder estimated that $4Billion in loans backed crypto mining rigs were in trouble at the end of June. Cleanspark, a bitcoin miner, explained that the crypto winter had brought him “unprecedented opportunities” after securing thousands upon thousands of miners at a discount rate.
Marathon announced Monday that it had entered into two agreements (Nasdaq : APLD and Compute North Holdings Inc. On July 12, it secured 200 MW from Applied Blockchain, and on July 5, it signed a deal to add 42 MW with Compute North.
Marathon explained that “Applied Blockchain’s facilities” are currently being constructed. According to construction schedules, installation of Marathon’s miners is expected to start at these facilities in the fourth quarter 2022. All miners will be installed by mid-year 2023.
