Marathon to lift hash rate by more than 600% after a record purchase of miners from Bitmain

American mining company Marathon Digital Holdings has signed a contract with Bitmain to buy a ‘record number’ of Bitcoin miners Antminer S19XP.

According to the delivery schedule, the ordered units will be shipped by the manufacturer from July to December 2022.

In connection with the purchase, Marathon will upgrade part of its fleet. The company expects that after deploying the new miners the fleet will comprise about 199,000 Bitcoin miners with a total hash rate of around 23.3 EH/s.

“This growth represents an increase of more than 600% over current capacity and 75% of our previous forecast — 13.3 EH/s by mid-2022,” said Marathon CEO Fred Thiel.

According to him, the company’s business model allows investing in equipment rather than in infrastructure, which enabled the large order.

Bitmain noted that Marathon “remains one of its most important clients.”

Earlier the mining company expanded its agreement with infrastructure provider Compute North to deploy more than 100,000 installations for Bitcoin mining.

As reported in Q3, Marathon mined 1,254.4 BTC (~$64 million at the time of writing). This was 91% higher than the previous period.

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