Nearly US$900 million worth of Bitcoin mining equipment is heading towards Las Vegas-based Marathon Digital Holdings. The firm announced the purchase last week, but the purchase price was only disclosed on December 30.
Last week, Marathon announced a deal with Bitmain for 199,000 S19 XP models to be delivered through the latter half of 2022. The mining rigs will be shipped from Bitmain between July and December, according to the delivery schedules.
The S19 XP rigs produce approximately 23.3 EH/s (Exa hashes per second), a 600 percent increase on the firm’s current hash rate, and a 75 percent increase from its prior objective of 13.3 EH/s by mid-2022, according to Marathon CEO Fred Thiel. All the rigs are expected to be operational by early 2023.
US Now Aims to Lead in BTC Mining
On the strength of this recent purchase, Marathon has made the largest single order Bitmain has ever received for the S19 XP models, with its ultimate ambition to become not only the largest mining company in the US but worldwide.
With 23.3 EH/s of total capacity expected to be online in early 2023 and ample access to renewable power behind the meter with one of the largest renewable energy providers in North America, we believe we have established Marathon as one of the leading bitcoin miners in North America and potentially the largest known miner in the world. We would like to thank the team at Bitmain for helping us realise this objective.
Marathon press release
Now that China is no longer the concentration point for bitcoin miners following the its government crackdown on crypto, the US has overtaken the People’s Republic by becoming the number one country with the biggest BTC hashrate.
Green Issues Addressed
Discussions regarding the environmental impact of BTC mining have been assessed by several experts who have explained why and how mining can support renewable energy.
Bitcoin mining has even proven to be useful for insulating cities from the winter chill. As Crypto News Australia reported in October, the City of North Vancouver has announced a partnership with its local energy provider to use BTC mining to heat the city.
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