Image default
Blockchain

Marathon Digital Buys 78,000 Antminer S19 XP Bitcoin Miners Worth Almost $900M

Marathon Digital Holdings, a Nasdaq-listed bitcoin mining firm whose headquarter relies in Las Vegas, announced that it ordered 78,000 Antminer S19 XP bitcoin mining machines price $879.06 million from Bitmain.

Webp.net-resizeimage - 2021-12-30T160301.341.jpg

An SEC submitting made in December exhibits that the corporate ordered 78,000 models of Bitmain’s Antminer S-19 XP mining machines, that are anticipated to be delivered in 2022.

The buy will assist Marathon Digital to broaden its enterprise operations by rising the variety of its operational miners to round 199,000 complete machines and bettering its hash price to 23.3 exahashes per second (EH/s) by early 2023, a 600% enhance from the present ranges. Fred Thiel, the CEO of Marathon Digital Holdings, talked concerning the improvement and stated: “This growth represents more than a 600% increase from our current hash rate and a 75% increase from our prior projection of 13.3 EH/s by the middle of 2022.”

Marathon stated that the dispatch can be delivered in six batches, with 13,000 machines to be delivered each month from July to December 2022. The firm additionally acknowledged that it’s going to pay Bitmain in batches. Thiel stated: “35% of the total amount within two days of execution of the purchase contract, 35% of each single shipment price at least six months prior to each such shipment, and the remaining 30% of each single shipment price at least one month prior to each such shipment.”

Theil additional revealed that the acquisition is the most important single order that Bitmain has ever obtained for 19 XPs, when it comes to complete hash price (140 terahashes per second or TH/s).

Why Marathon Digital Is Making Great Success

The improvement comes at a time when Marathon Digital now finds itself in the midst of a sudden rise of Bitcoin mining income. This is as a result of Chinese authorities shutting down many of the nation’s Bitcoin operations over the previous two months. As a consequence, Marathon has witnessed a number of advantages. The scenario has elevated the worth of MARA inventory considerably. Marathon has acquired at the least three or 4 main advantages from China’s crackdown on Bitcoin mining. These embody diminished tools prices, elevated Bitcoin costs and plenty of extra.

One advantage of China’s crypto crackdown is that it has led to an unlimited achieve in Bitcoin price. The crackdown had an opposed affect from May to July, however by August 12, Bitcoin price rose by 44%. This is a large rebound and the crypto has elevated its worth by over 58% year-to-date (YTD). And many of the good points occurred in September, which additionally coincided with the crackdown of a number of mining operations in China. This helps Marathon Digital as a result of it mines Bitcoin and subsequently will increase the pricing of its mined Bitcoin tokens and improves its income.

More than 50% of the Bitcoin mining business’s hash price is now out of China. As a consequence, the issue in mining Bitcoin is now a lot simpler. This has led to a rise within the quantity of Bitcoin that Marathon can mine and thus rising its income. Also, Bitcoin mining tools is now a great deal cheaper, with most application-specific built-in circuits (ASIC) machines being manufactured in China. Several of such producers have been compelled to decrease their pricing on account of dropping lots of their home clients.  Furthermore, secondary market costs for ASIC miners have additionally been diminished.

Marathon has simply introduced an enormous buy of 78,000 Antminer S19 XP bitcoin miners price $879.1 million. In the previous, such miners would have value way more, notably given the scarcity of semiconductors chips.

Image supply: Shutterstock

Related posts

BitConnect Founder Charged with Orchestrating Global Crypto Ponzi Scheme Worth $2.4B

Crypto Advisor

An In-Depth Look the 5 Most Profitable Bored Ape NFT Traders of All Time

Crypto Advisor

10,000 Ukrainian Flags Minted as NFTs to be Sold on The Sandbox

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 18,943.46 2.13%
ethereum
Ethereum (ETH) $ 1,331.16 2.05%
tether
Tether (USDT) $ 1.00 0.03%
usd-coin
USD Coin (USDC) $ 1.00 0.02%
bnb
BNB (BNB) $ 266.08 1.61%
binance-usd
Binance USD (BUSD) $ 1.00 0.23%
cardano
Cardano (ADA) $ 0.449125 0.22%
xrp
XRP (XRP) $ 0.400729 5.53%
polkadot
Polkadot (DOT) $ 6.27 1.03%
solana
Solana (SOL) $ 31.75 1.85%
shiba-inu
Shiba Inu (SHIB) $ 0.00001 4.18%
dogecoin
Dogecoin (DOGE) $ 0.058698 0.16%
staked-ether
Lido Staked Ether (STETH) $ 1,321.43 1.90%
matic-network
Polygon (MATIC) $ 0.724211 4.49%
tron
TRON (TRX) $ 0.059598 1.53%
dai
Dai (DAI) $ 1.00 0.02%
avalanche-2
Avalanche (AVAX) $ 16.64 2.45%
ethereum-classic
Ethereum Classic (ETC) $ 28.48 3.75%
leo-token
LEO Token (LEO) $ 4.77 1.45%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 18,967.00 2.05%
uniswap
Uniswap (UNI) $ 5.38 2.07%
litecoin
Litecoin (LTC) $ 51.68 0.60%
cosmos
Cosmos Hub (ATOM) $ 13.72 11.67%
okb
OKB (OKB) $ 14.82 1.68%
ftx-token
FTX (FTT) $ 23.36 2.63%
terra-luna
Terra Luna Classic (LUNC) $ 0.000281 6.59%
near
NEAR Protocol (NEAR) $ 3.81 5.26%
chainlink
Chainlink (LINK) $ 6.88 4.62%
crypto-com-chain
Cronos (CRO) $ 0.10347 0.99%
monero
Monero (XMR) $ 140.66 0.91%
stellar
Stellar (XLM) $ 0.113504 0.25%
bitcoin-cash
Bitcoin Cash (BCH) $ 111.28 1.59%
algorand
Algorand (ALGO) $ 0.319191 5.94%
flow
Flow (FLOW) $ 1.65 2.45%
vechain
VeChain (VET) $ 0.022287 2.62%
eos
EOS (EOS) $ 1.29 0.41%
internet-computer
Internet Computer (ICP) $ 5.82 3.86%
filecoin
Filecoin (FIL) $ 5.25 3.81%
chain-2
Chain (XCN) $ 0.065927 5.76%
frax
Frax (FRAX) $ 1.00 0.19%
hedera-hashgraph
Hedera (HBAR) $ 0.057736 1.30%
decentraland
Decentraland (MANA) $ 0.700444 3.73%
apecoin
ApeCoin (APE) $ 5.64 2.68%
the-sandbox
The Sandbox (SAND) $ 0.839867 1.80%
tezos
Tezos (XTZ) $ 1.44 4.23%
quant-network
Quant (QNT) $ 101.22 5.88%
axie-infinity
Axie Infinity (AXS) $ 12.15 2.90%
aave
Aave (AAVE) $ 74.58 1.99%
lido-dao
Lido DAO (LDO) $ 1.78 2.12%
elrond-erd-2
Elrond (EGLD) $ 47.36 2.08%
theta-token
Theta Network (THETA) $ 1.03 1.60%
true-usd
TrueUSD (TUSD) $ 1.00 0.04%
chiliz
Chiliz (CHZ) $ 0.224198 10.60%
bitcoin-sv
Bitcoin SV (BSV) $ 48.45 1.92%
compound-usd-coin
cUSDC (CUSDC) $ 0.022658 0.32%
paxos-standard
Pax Dollar (USDP) $ 1.00 0.18%
kucoin-shares
KuCoin (KCS) $ 8.93 1.37%
bittorrent
BitTorrent (BTT) $ 0.00000078370098 1.93%
ecash
eCash (XEC) $ 0.000039 0.88%
the-graph
The Graph (GRT) $ 0.096518 4.76%
iota
IOTA (MIOTA) $ 0.257794 1.17%
zcash
Zcash (ZEC) $ 53.25 3.62%
huobi-btc
Huobi BTC (HBTC) $ 18,970.04 2.57%
usdd
USDD (USDD) $ 1.00 0.02%
huobi-token
Huobi (HT) $ 4.56 1.53%
evmos
Evmos (EVMOS) $ 2.53 6.45%
havven
Synthetix Network (SNX) $ 2.31 7.29%
cdai
cDAI (CDAI) $ 0.022072 0.34%
maker
Maker (MKR) $ 604.41 2.67%
bitdao
BitDAO (BIT) $ 0.491776 2.33%
klay-token
Klaytn (KLAY) $ 0.198859 0.31%
neutrino
Neutrino USD (USDN) $ 0.938551 2.04%
fantom
Fantom (FTM) $ 0.224324 2.46%
compound-ether
cETH (CETH) $ 26.74 1.85%
neo
NEO (NEO) $ 8.27 1.36%
helium
Helium (HNT) $ 4.54 0.92%
gatechain-token
Gate (GT) $ 4.17 0.02%
defichain
DeFiChain (DFI) $ 0.821106 1.91%
radix
Radix (XRD) $ 0.05704 1.24%
celsius-degree-token
Celsius Network (CEL) $ 1.44 2.40%
pax-gold
PAX Gold (PAXG) $ 1,667.64 0.12%
pancakeswap-token
PancakeSwap (CAKE) $ 4.30 1.02%
thorchain
THORChain (RUNE) $ 1.61 4.49%
osmosis
Osmosis (OSMO) $ 1.23 8.83%
zilliqa
Zilliqa (ZIL) $ 0.031415 2.57%
enjincoin
Enjin Coin (ENJ) $ 0.467986 3.77%
nexo
NEXO (NEXO) $ 0.877324 2.14%
arweave
Arweave (AR) $ 9.36 3.88%