Marathon Bids To Become Largest Bitcoin Mine, Buys 10500 Miners

51
Marathon Patent Group (Courtesy: Newsdaemon.com)
Marathon Patent Group (Courtesy: Newsdaemon.com)

Nasdaq-listed cryptocurrency mining company Marathon announced its agreement contract with the ASIC mining manufacturer Bitmain.

The agreement has seen the company to purchase 10,500 next-generation Antminer S-19 Pro models for $23 million. The company has aimed to become the largest in the United States and its recent deal is only the testament of its goal.

Marathon, on Friday, announced that it has penned a long term agreement with Bitmain Technologies to purchase 10,500 new S-19 Antminers from the company.

The S-19 is specially designed to provide 110 terahash per second (TH/s) per unit and is the most profitable bitcoin miner on the market today, according to a report.

“The execution of this contract with Bitmain represents a milestone event for our company,” Okamoto said. “This investment is expected to result in Marathon being one of, if not the largest, bitcoin miner in North America.”

However, the recent order at place, will change the machinery for company to roughly 13,520 bitcoin mining rigs.

Marathon said “1,360 miners were delivered” to the firm’s hosting facility. “We are pleased to have provided Marathon with Bitmain’s latest generation of Antminer S19 Pro mining hardware,” Irene Gao an executive at Bitmain said on Friday.

“[Antminers are] equipped with the most advanced chipset currently available, the high-performance and low power consumption of the miners will significantly improve operations of Marathon’s mining business. This collaboration continues to strengthen our cooperation and will extend to future work together as Marathon expands its presence in the mining industry,” Gao concluded.