Marathon inks new arrangements to achieve 2023 hash rate target

Marathon inks new arrangements to achieve 2023 hash rate target

The Bitcoin mining firm is looking beyond its current troubles into next year to secure the energy it needs to make up a more significant portion of the network’s hash rate. Bitcoin miner Marathon Digital Holdings has secured a deal that it says provides electricity to generate enough power to contribute 23.3 exahashes per second (EH/s) to the Bitcoin network.Marathon revealed in a July 18 announcement that data center operator Applied Blockchain would host 254 megawatts of power, with an option to add 70 megawatts from various other providers, including Compute North. Marathon expects....


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Silvergate Bank issues $100M credit line to mining firm Marathon Digital

"We remain optimistic that we are well positioned to scale our hash rate to 13.3 EH/s by the middle of 2022,” said Marathon Digital CEO Fred Thiel. Marathon Digital Holdings, a United States-based crypto mining company, has secured a $100 million revolving line of credit with Silvergate Bank using USD and Bitcoin.According to information provided by Marathon Digital, the mining firm obtained the $100 million credit line from the crypto-friendly bank on Friday. The company will use the credit to purchase Bitcoin (BTC) mining equipment and fund its mining operations. Marathon Digital said it....