Marathon to Buy Bitcoin Miners From Bitmain for $170 Million

The Nasdaq-listed mining company Marathon Patent Group has agreed with Bitmain to purchase 70,000 Antminer S19s. The deal is worth $170 million, according to the statement.

Delivery of the first 7,000 units is expected in July 2021, with the remainder by December. After their deployment Marathon will have 103,000 miners at its disposal. The hash rate generated will rise to 10.36 EH/s.

“This deal is the largest-dollar order and the single-largest purchase of Antminer S19 ASIC miners in Bitmain’s history,” said Marathon’s chief executive Merrick Okamoto.

In September Marathon acquired from Bitmain for $23 million, and in late October — another 10,000 flagship units.

In December, the U.S. blockchain-hosting provider Core Scientific bought more than 58,000 bitcoin miners from Bitmain — deliveries are due by September 2021.

Follow ForkLog News on Telegram: ForkLog FEED — the full news feed, ForkLog — the most important news and polls.