Victor Ugochukwu · Dec 14, 2020 . 5min read
Marathon acquires additional 10,000 Antminer S-19 Pro miners from Bitmain
Marathon has signed a contract for the additional 10,000 purchase of next-generation Antminer S-19 Pro ASIC Miners with Bitmain.
By Komal Joshi · Oct 29, 2020 . 6min read
Marathon Patent Group, a Nasdaq-listed bitcoin mining company, inked a contract to buy an additional 10,000 Antminer S-19 Pro miners from Bitmain. Marathon Patent Group is the biggest publicly traded Bitcoin self-mining companies in North America. The company unveils that the delivery of these new 10,000 S-19 Pro miners will begin in January 2021. However, the delivery will conclude by March 2021.
According to the blog post, the delivery of these additional 10,000 miners will be faster than the prior order for 10,500 miners. Earlier, 10,500 miners will deliver between January and June 2021. The additional 10,000 will be delivered three months prior to the last purchase. Marathon Patent Group says that its bitcoin mining revenue will soon increase prominently surpassing expectations.
Antminer S-19 Pro miners to add 1.10 exahash to the company’s enduring mining power.
In accordance with the reports, each miner supports the company in providing 110 TH/s (Terahash) increasing 1.10 EH/s (Exahash) to the prevailing operation of 2,560 miners of the company. Marathon Patent Group unveiled that the delivery of 500 additional S-19 Pro Miners will take place in November 2020 at Marathon’s Hardin MT facility.
The company reveals further details of the deliveries it is going to get in the following months. It will receive 4,000 S-19 Pro miners in January, 6300 in February, 4,800 in March. Furthermore, it will receive 1,800 in April, 1,800 in May, and eventually 1,800 in June.
For the uninitiated, in August, Marathon inked a long term purchase contract of $23 Million with mining manufacturer Bitmain for the purchase of 10,500 Antminer S-19 Pro ASIC miners. The company stated the contract outlines Marathon’s aims to enhance operations of the bitcoin mining business prominently.
Recently, Marathon Patent Group revealed the development of a joint venture with Beowulf Energy in Montana to mine Bitcoin. Marathon has associated with Beowulf to co-locate its Bitcoin Mining Data Center in Big Horn, Montana. It comprises 20 acres of land adjoining Beowulf’s Hardin Generating Station. It is a 105 megawatts (MW) power facility located in Hardin, Montana. Beowulf will provide power to the Data Center from the Hardin plant at a production cost of $0.028/kWh.
Conclusively, Marathon believes that the current bitcoin prices are favourable, especially after the installation of recently bought miners.
Follow Cryptodose for more updates.