Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»Marathon Digital acquires Bitcoin mining site for $179 million
TRADING NEWS

Marathon Digital acquires Bitcoin mining site for $179 million

By Crypto FlexsDecember 20, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Marathon Digital acquires Bitcoin mining site for 9 million
Share
Facebook Twitter LinkedIn Pinterest Email
  • Marathon Digital will pay $179 million to acquire two Bitcoin mining sites with a capacity of 390 megawatts from Generation Capital.
  • MARA shares soared 9% after the news broke, giving it a year-to-date gain of more than 530%.
  • Bitcoin traded above $42,000, up 2.2% last week after paring recent gains.

Bitcoin mining company Marathon Digital plans to increase mining capacity and reduce BTC mining costs after completing the purchase of two Bitcoin mining sites for $179 million.

Marathon will purchase the two mine sites from a subsidiary of Generate Capital at a cost of $458,000 per megawatt, which will be paid in cash, the company said in a news release. In total, the transaction will add 390 MW to Marathon’s mining capacity.

Marathon to Reduce BTC Mining Costs

According to Marathon, the transaction will be its “first wholly owned site” and will add 3% of the 584 MW it directly controls to its portfolio. The transaction will increase Marathon’s capacity to 910 MW, of which 45% is at company-owned sites and 55% at sites owned or operated by third parties.

Currently, 97% of megawatts are hosted on third-party sites.

Marathon said the acquisition will increase its operating hash rate to 50 exahash over the next 18 to 24 months. The miner says the site relocation in Granbury, Texas, and Kearney, Nebraska, should occur in the first quarter of 2024. If trading closes by then, it will be right before the highly anticipated Bitcoin halving.

The company expects to reduce mining costs by about 30%.

“Generate’s acquisition of sites in Granbury, Texas, and Kearney, Nebraska gives us the opportunity to reduce Bitcoin production costs at these sites, leverage energy hedging opportunities, and expand our operating capabilities,” said Marathon Chairman Fred Thiel. “It is done,” he said. And the CEO said:

Marathon’s announcement sent MARA shares up 9% on Tuesday. MARA is up 47% in the past week and, at the time of writing, is up 536% year-to-date. Meanwhile, Bitcoin price is up 2.3% over the past 7 days, or 154% YTD.


Share this article

category

tag

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025
Add A Comment

Comments are closed.

Recent Posts

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025
Most Popular

3 major EIPs to be released

June 8, 2024

Is it time to rotate with Cardano Traders, ADA $ 0.78 DIP Zone? – evaluation …

May 18, 2025

Cryptocurrency derivatives exchange OPNX closes in February

February 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.