Mining giant Marathon says goodbye to 2021 with a bang: The company orders mining hardware for almost 900 million US dollars.
The deal will cost almost 900 million US dollars: the US mining giant Marathon digital entries (Ticker: MARA) has the hardware manufacturer Bitmain ASIC miner ordered at a record height. According to the official announcement to the SEC, the companies signed a supply contract for 78,000 Antminer S-19 XP. The devices will be delivered in six tranches of 13,000 pieces each, at a price of US $ 151 million each. The first batch should be delivered in August of next year; the last delivery should take place in December 2022.
With the conclusion of the contract, Marathon intends to increase its hash rate to 23.3 EH / s; a total of 199,000 mining devices will be in the possession of the listed company. With a hash rate of 23.3 EH / s, Marathon should become by far the largest mining company in the US, if not the world. For comparison: the total hashrate of the Bitcoin network is 167 exahashes per second at the moment. According to the current state, around 13 percent of the total hashrate would be attributable to marathons.
In terms of hashrate, it’s the largest order Bitmain has ever received, says Fred Thiel, CEO of Marathon:
Given our strong balance sheet and light asset model that allows us to invest our capital in mining machines rather than infrastructure, we were in a unique position to land the largest single order of S19 XP, as measured by the total hash rate that BITMAIN has. Dyed. He received.
Fred Thiel, CEO of Marathon
Marathon Digital Holdings puts a total of $ 879 million on the table. The company intends to operate the newly acquired devices primarily on renewable energy.
Shareholders, however, take the deal in stride: Before the US market opens, the company is only trading 0.2 percent higher.
The money for the investment probably came from the latest loan of $ 500 million. We inform.