Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
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

Bitcoin increases to $ 105K. Are we heading to the bull ship?

June 8, 2025

Understand the effect of half a deal on transactions

June 8, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

Ether Leeum and Solana SHINE can surge in the market.

June 9, 2025

Binance Listing Resolv (Resolv) fuel surge in 460% dex

June 9, 2025

Prevent future portfolio: The best encryption that can be held in the long run

June 9, 2025

AI drive tools innovate the detection of ghost fishing nets.

June 9, 2025

Is AVAX price conflict coming in? Whales and merchants flash red flags

June 9, 2025

The UK is with NVIDIA in London Tech Week with AID AI Infrastructure

June 9, 2025

2025 Bitcoin Market, which is driven by Stablecoin Regulations: Fiscal Finance

June 9, 2025

Bitcoin increases to $ 105K. Are we heading to the bull ship?

June 8, 2025

The BNB Chain Ecosystem report emphasizes major development and new projects.

June 8, 2025

BNB Chain’s new DAPP fuel growth: AI, Defi, etc.

June 8, 2025

Encryption whales are accumulating these three altcoins.

June 8, 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

Ether Leeum and Solana SHINE can surge in the market.

June 9, 2025

Binance Listing Resolv (Resolv) fuel surge in 460% dex

June 9, 2025

Prevent future portfolio: The best encryption that can be held in the long run

June 9, 2025
Most Popular

Trader Predicts 231% Rally for Celestia (TIA), Updates Bitcoin Bull Cycle Outlook

July 11, 2024

PEPE PRICE CRASH ESCALLAES: 3M Humongous Whale Dump

April 1, 2025

Algorand Foundation CEO’s X account was compromised

January 26, 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.