thenewscrypto.com
- The impending halving of the BTC mining payout is a major factor in this strategic acquisition.
- The capacity of Marathon is increased by a total of 390 megawatts by these purchases.
The purchase of two Bitcoin mining facilities for $178.6 million was announced by Marathon Digital Holdings. The impending halving of the Bitcoin mining payout in 2024 is a major factor in this strategic acquisition by Generate Capital, which is expected to significantly enhance Marathon’s mining capacity.
The capacity of Marathon is increased by a total of 390 megawatts by these recently purchased facilities in Nebraska and Texas. Not only is this enlargement a significant step towards increased operational control and efficiency, but it is also about size.
Strategic Expansion
In the past, external data centers provided 97% of Marathon’s capacity. The purchase will provide the firm a substantial boost to its autonomy because it would own and operate 45 percent of its 910 megawatts.
The goal of the arrangement is to increase profitability for Marathon by lowering the cost of mining a single Bitcoin by 30%. There is 82 MW of available capacity at the locations, therefore there is room for rapid development.
In addition, Marathon intends to install more gear when current hosting prospects leave, with the goal of doubling its operating hash rate to 50 exahashes in the two years that follow.
Salman Khan, chief financial officer, emphasizes the low debt level and the intentional rise in cash and Bitcoin reserves. In the third quarter of 2023, the company’s sales increased by 670 percent compared to the same period the previous year. They reported a net income of $64.1 million for the quarter and a significant rise in Bitcoin output as a consequence of the rise in their results filing on November 8.
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