Marathon signs hosting agreements for about 254 MW of mining capacity

The mining company Marathon Digital Holdings has secured about 254 MW of capacity for its bitcoin mining operations as a result of new hosting agreements with various hosting providers.

$MARA Secures hosting capacity to support all 23.3 EH/s of #Bitcoin mining 👇

— 200 MW (9.2 EH/s) w/ @APLDBlockchain

— Additional 42 MW w/ @computenorthllc

— 12 MW (0.8 EH/s) w/ other providers https://t.co/fXgmN4ppTL

— Marathon Digital Holdings (@MarathonDH) July 18, 2022

“Thanks to these new agreements, we believe we have secured sufficient hosting capacity to support our target of about 23.3 EH/s of computing power for bitcoin mining in 2023,” said Fred Thiel, Marathon’s chairman and CEO.

One of the firm’s deals was a contract with Applied Blockchain to supply about 200 MW for the deployed miners. The provider will deploy at facilities in Texas (90 MW) and North Dakota (110 MW) around 66,000 devices with a total hash rate of about 9.2 EH/s.

As part of the agreement, Applied Blockchain provided Marathon the option to increase capacity by an additional 70 MW at the data center in North Dakota.

Both facilities are under construction. Installations of miners on them are expected to begin in the fourth quarter of 2022, with full deployment due to be completed by mid-2023.

Marathon also expanded the agreement with Compute North for an additional 42 MW of capacity at the provider’s facility near Granbury, Texas. This will enable the deployment of a further 14,000 miners at the data center. The total number of devices will be around 26,000 units with a hash rate of 3.6 EH/s.

The full equipment rollout is planned for completion by the end of 2022.

In addition to these agreements, Marathon secured another 12 MW of hosting capacity through deals with several other providers. The company expects to install around 4,000 bitcoin miners at their facilities in the coming months, with a hash rate of 0.8 EH/s.

“Each of these facilities is already under construction, which is crucial to accelerating deployment. The first miners to be placed under these new agreements are planned to be installed as early as August,” said Thiel.

In June, a hurricane that hit Montana damaged a power plant in Hardin, which took out 75% of Marathon’s active mining capacity.

It was one of the main reasons for the decline in bitcoin mining by 44% in a month.

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