Mining Firm Marathon to Invest $120M in Bitmain Miners
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US mining company Marathon Digital plans to purchase 30,000 AntMiner S19j Pro devices from Chinese manufacturer Bitmain.

Delivery of the devices is expected to take place in the first and second quarters of next year. The order amounts to as much as $120 million. Marathon has stressed the deal will have a positive impact on Bitmain's performance if it is fully executed.

Marathon has previously acquired 100,000 S19 devices from Bitmain, which it expects to install during the first quarter of next year. The company expects that by June 2022 its hashrate will reach 13.3 exahashes per second, which corresponds to more than 10% of Bitcoin's current hashrate.

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Since the start of an active fight against cryptocurrency mining in China in May this year, Marathon has presented the largest plan to expand its hashrate of any public company. According to a report last June 30, the company had around 20,000 S19 devices capable of generating 2.09 EH/s. Considering the current complexity of mining, this is enough to mine 18 BTC ($720,000) per day. Marathon expects delivery of 12,000 miners in October this year. Fred Thiel, CEO of Marathon, said:

"Increasing our percentage of the total network’s hash rate increases our probability of earning Bitcoin, and given the uniquely favorable conditions in the current mining environment, we believe it is an opportune time to add new miners to our operations. As a result, once all miners are fully deployed, our mining operations will be among the largest, not just in North America, but globally."

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