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»ADOPTION NEWS»Marathon will pay Hut 8 $13.5 million to acquire operational control of two Bitcoin mining sites.
ADOPTION NEWS

Marathon will pay Hut 8 $13.5 million to acquire operational control of two Bitcoin mining sites.

By Crypto FlexsFebruary 3, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Marathon will pay Hut 8 .5 million to acquire operational control of two Bitcoin mining sites.
Share
Facebook Twitter LinkedIn Pinterest Email

Posted 1 minute ago In ~

Marathon Digital has agreed to pay Hut 8 a $13.5 million termination fee to gain full operational control of its recently acquired Bitcoin mining sites in Granbury, Texas, and Kearney, Nebraska.

Marathon will replace the mining company as the site operator by April 30, while Hut 8 will continue to provide management services and carry out its own mining activities in the meantime.

Hut 8 President Asher Genoot said: “We are very proud of the work we have done since taking over management of the Kearney and Granbury sites and would like to recognize the incredible talent and dedication shown by our teams across the sites.” said in a statement today. “We anticipate an orderly transition of operations in the coming months and look forward to providing an update on future plans when possible.”

Marathon signed a deal on Jan. 16 to secure ownership of the site from Generate Capital for $178.6 million. However, Hut 8 continued to manage site operations under an agreement with the previous owners.

Hut 8 gave up its $1.2 million-a-month contract.

Hut 8 inherited the service contract following its merger with USBTC last year. TheMinerMag previously reported that Hut 8 has more than four years left on his contract and is worth $1.2 million per month.

Marathon’s subsidiary and Hut8 agreed to terminate the contract on January 30 and transfer operational responsibility to Marathon. This will allow Marathon to reduce operating costs and improve production costs for mining Bitcoin on-site, the company said yesterday.

“Having direct operation of our sites in Granbury and Kearney will allow us to fully appreciate the operational and economic benefits of owning these assets,” said Fred Thiel, Marathon Chairman and CEO. “We look forward to gaining greater leverage and leveraging our operational expertise for new sites in Texas and Nebraska to realize the full benefits of our recent acquisitions.”


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

James Hunt is a reporter for The Block, based in the United Kingdom. As a writer for The Daily newsletter, James also brings you up to speed on the latest cryptocurrency news every week. Before joining The Block in 2022, James spent four years in the industry as a freelance writer, contributing content to publications and cryptocurrency projects. James’ coverage ranges from Bitcoin and Ethereum to layer 2 scaling solutions, avant-garde DeFi protocols, evolving DAO governance structures, modern NFTs and memecoins, regulatory environments, cryptocurrency company trading, and the immersive metaverse. It’s all-encompassing. You can reach James on Twitter or Telegram via @humanjets or email him at (email protected).
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025

AI starts a cost -effective batch API for LLM request.

June 12, 2025

The encryption price was set to higher movement after the trade proceeded in trade.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Why is Cryptogames the best encryption gambling site?

June 18, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

Bitcoin is ahead of the FOMC meeting. What is the following?

June 17, 2025

R0AR Introduces Unified DeFi Platform For Token, Liquidity, And NFT Staking

June 17, 2025

Avail Goes Full Stack To Capture $300bn Global Blockchain Infra Market

June 17, 2025

Polyhedra connects 83% ZKJ token collisions to liquidity attacks, CEX activities and market liquidation.

June 17, 2025

ZKJ Crypto Price Pumps 20%: Dead Cat Bounces?

June 17, 2025

Trading The World On Bybit

June 16, 2025

Universal Digital Inc. Announces Bitcoin Treasury Strategy Across North America And Asia

June 16, 2025

FansHash Launches Zero-Barrier Cloud Mining With Daily Payouts And Global Pool Access

June 16, 2025

The Number One Way For Ordinary People To Become Rich In 2025

June 16, 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

Why is Cryptogames the best encryption gambling site?

June 18, 2025

ECB Chairman Lagarde aims to seize the global order to strengthen the Euro’s global position.

June 17, 2025

Bitcoin is ahead of the FOMC meeting. What is the following?

June 17, 2025
Most Popular

Sonic is trying to see a minor price bounce? It is important to reclaim $ 0.622

March 11, 2025

Certik reports $ 140K Arbitrum Exploit via Signature bypass.

March 10, 2025

Crow Launches Blockchain-Based Escrow Token, Transforming Digital Transactions with Enhanced Security and Transparency

May 20, 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.