Home Uncategorized Marathon Patent Agrees to Buy 70K ASIC Miners From Bitmain for $170M

Marathon Patent Agrees to Buy 70K ASIC Miners From Bitmain for $170M

One of the biggest enterprise bitcoin mining companies in North America, Nasdaq-listed Marathon Patent Group, 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.

December 28, 2020

Marathon Patent Agrees to Buy 70K ASIC Miners From Bitmain for $170M

“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,” stated Marathon Chairman and CEO Merrick Okamoto.

Marathon also said it sees receiving an initial batch of 7,000 S-19 miners in July 2021 and the final shipment in December 2021.

According to Coindesk, 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.

SourceCoinDesk