On Monday, the listed Bitcoin mining company Marathon Digital Holdings announced the purchase of 30,000 S19j Pro Antminers from Bitmain. According to the company, once all the new mining machines are deployed, Marathon will receive 13.3 exahash (EH/s) per second from the newly added machines.

Marathon acquired 30,000 mining machines for US$120 million

On August 2, Marathon Digital Holdings, Inc. (NASDAQ: MARA) revealed that the Bitcoin mining company has acquired 30,000 S19j Pro Antminers. Depending on the model, S19j Pro can process SHA256 hash rates at 100 to 104 terahash per second. An S19j Pro machine uses today’s BTC price, current mining difficulty, and an electricity bill of US$0.12 per kilowatt hour (kWh), and can make a profit of US$29 per day. According to the announcement, the cost of the entire batch of these machines is approximately US$120.7 million.

Marathon stated that it is expected that all 30,000 newly purchased mining machines will be delivered between January 2022 and June 2022. This timetable shows that the delivery time of new miners produced by today’s top manufacturers may be quite long. Marathon stated that after the full deployment of the mining machines, the company’s ownership will increase by 13.3 EH/s and “more than 133,000 Bitcoin mining machines.”

“If all Marathon’s mining machines are deployed today.” The mining company’s announcement detailed, “The company’s computing power will account for about 12% of the Bitcoin network’s total computing power, which is about 109 EH/s as of August 1, 2021. .”

Marathon CEO believes that now is the best time to add new miners to the company’s fleet

Marathon CEO Fred Thiel emphasized in the announcement that he believes that now is the best time to buy mining machines. “Increasing our percentage of the hash rate of the entire network will increase our chances of earning Bitcoin, and given the unique favorable conditions in the current mining environment, we believe that now is a good time to add new mining machines to our business. “Thiel said. The Marathon CEO added:

“With this new order, our business has increased by 30%, reaching approximately 133,000 mining machines and a production speed of 13.3 EH/s. Therefore, once all the miners are deployed, our mining business will become the largest, not only in North America, and on a global scale.”

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