Marathon Achieves 254 Megawatts to Support Business’ 2023 Bitcoin Mining Objectives

August 25, 2022

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Marathon Achieves 254 Megawatts to Support Business’ 2023 Bitcoin Mining Objectives

Bitcoin mining operation Marathon has announced that it has secured 254 megawatts of new hosting contracts, with the possibility of expanding to 324 megawatts (MW). Marathon’s latest development contracts should support the bitcoin mining company’s target of approximately 23.3 exits per second (EH / s). Public Bitcoin Mining Marathon (NASDAQ: MARA) has secured 254 megawatts of hosting, expandable to 324 megawatts from several different hosting providers.

The news comes after the marathon was canceled in mid-June due to a storm in Montana that knocked out the company’s equipment. Providing 254 megawatts of energy will allow Marathon to meet the company’s 2023 goal of the computing power of 23.3 exhashashas per second (EH / s). “With these new arrangements, we believe we have sufficient hosting capacity to support our target of approximately 23.3 [exhausts] per second of computing power for Bitcoin mining by 2023,” Marathon president and CEO Fred Thiel said Monday. In the fourth quarter of 2021, Marathon and many other Bitcoin mining operations experienced significant growth, with thousands of next-generation Bitcoin mining platforms available to manufacturers. However, Bitcoin mining profits were very low in 2022, and reports suggest that many Bitcoin miners felt pressured by low Bitcoin prices. At the end of June, the founder of Luxor Technologies with the support of encrypted miners estimates $ 4 billion.

Bitcoin mines explained that Kiiipto Winter brought “unprecedented opportunities” after protecting thousands of miners with discounts. The marathon explained in its announcement Monday, which ended two contracts with Blaxain Applied (Nastag: APLT) and North Holdings Inc. On July 12, it received 200 megawatts of applied blockchain, and on July 5, it signed an agreement with Compute North to add an additional 42 megawatts of capacity.“Applied blockchain objects are already under construction,” Marathon explained. “Based on construction plans, installation of Marathon miners at the facility is expected to begin in the fourth quarter of 2022, with all miners installed approximately mid-2023.”

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