Bitcoin Miner Marathon Patent Group Completes $200M Capital Raise

Bitcoin Miner Marathon Patent Group Completes $200M Capital Raise

Nasdaq-listed Marathon said it will use the funds to pay for recent hardware purchases from Bitmain and to expand its business.


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Marathon Buys Additional 10,000 Antminers to Become Largest US Bitcoin Miner

Nasdaq-listed Marathon Patent Group is buying 10,000 of the more efficient Antminer S19 Pro bitcoin miners from Bitmain in a deal worth millions of dollars. ▪ Marathon said the deal would boost the company’s operations to 23,560 next-generation miners, “making it the largest self-miner in North America”. ▪ When fully installed, the new machines will bring the firm’s total hashrate to 2.56 exahash per second (EH/s) – one of the world’s top 15 bitcoin miners. ▪ In August, Marathon bought another 10,500 miners of the same make for $23....

Marathon Settles Record-Breaking ASIC Acquisition, Buys 70,000 High Performan...

On December 28, the publicly listed firm Marathon Patent Group announced the purchase of 70,000 Antminer S19 bitcoin miners from Bitmain for $170 million. Marathon expects the shipments to complete in 2021, giving the mining operation over a hundred thousand ASIC miners or more than ten exahash of hashpower. Marathon Patent Group, Inc. (NASDAQ:MARA) revealed the company is dedicating a lot of capital toward the bitcoin mining industry. On Monday, Marathon announced one of the largest mining rig purchases to-date, as the firm has purchased 70,000 Antminer S19 bitcoin miners from Bitmain.....

Bitcoin Miner Marathon Agrees to Deal That Cuts Electricity Costs by 38% With...

Nasdaq-listed Marathon Patent Group has agreed to a joint venture deal with U.S. independent power producer Beowulf Energy to deliver cheap electricity for its bitcoin mining operations in the country’s north. In a statement on Tuesday, Marathon said that it will co-locate a bitcoin mining facility within Beowulf’s Big Horn Data Hub at its 105-megawatt power station in Hardin, Montana. The company will pay Beowulf – which builds and operate electric power plants – $0.028 per kilowatt-hour (kWh) for the supply of electricity at the facility. This is 38% below....

Marathon Patent Group To Receive 4,000 New Bitcoin Mining Rigs From Bitmain

Marathon Patent Group is receiving 4,000 Antminer S-19 Pro rigs from Bitmain, bringing its bitcoin mining capacity up to 688 PH/s. The post Marathon Patent Group To Receive 4,000 New Bitcoin Mining Rigs From Bitmain appeared first on Bitcoin Magazine.

Marathon Patent Group Buys $150 Million Worth of Bitcoin as a Reserve Asset

Marathon Patent Group announced Monday that it bought 4,813 bitcoins in a deal worth $150 million. The firm joins the growing list of publicly listed companies holding bitcoin in their treasuries. Merrick Okamoto, chairman and chief executive officer of Marathon, said the Nasdaq firm is buying bitcoin (BTC) as a reserve asset. “We…believe that holding part of our treasury reserves in bitcoin will be a better long-term strategy than holding US dollars, similar to other forward-thinking companies like Microstrategy,” said Okamoto, in a statement. “By purchasing $150....