Marathon, a bitcoin-focused cryptocurrency mining company, has acquired an additional 10,000 next generation Antminer S-19 Pro ASIC Miners from Bitmain.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to an official press release, each miner produces 110 TH/s adding 1.10 EH/s to the current existing operation of 2,560 miners at the company.
500 additional S-19 Pro Miners will reportedly arrive at Marathon’s facility in November this year. Starting from 2021, Marathon will receive the shipments of S-19 Pro Miners: 4,000 in January, 6,300 in February, 4,800 in March, 1,800 in April, 1,800 in May and finally 1,800 in June.
Marathon CEO, Merrick Okamoto, says the company’s mining operations will include 23,560 next generation miners "bringing total hashrate to 2.56 Eh/s." With the new purchase, Marathon becomes the largest self-miner in North America:
"These new 10,000 miners are expected to all be deployed in Q1, three months earlier than our last purchase. As a result, there will be a substantial increase in our Bitcoin Mining revenue sooner than we had anticipated."
In August, Marathon signed a long term purchase contract with mining manufacturer Bitmain for the purchase of 10,500 Antminer S-19 Pro ASIC miners.
The company said the contract represents Marathon's intentions "to significantly improve" operations of bitcoin (EXANTE: Bitcoin) mining business.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.