On Monday, publicly listed Bitcoin mining company Marathon Digital Holdings announced the purchase of 30,000 S19j Pro Antminers from Bitmain. According to the company, once all the new mining machines are deployed, Marathon will receive 13.3 exahash (EH/s) per second from the newly added machines.

Marathon acquired 30,000 miners for 120 million U.S. dollars

On August 2, Marathon Digital Holdings, Inc. (NASDAQ: MARA) revealed that the Bitcoin mining company has acquired 30,000 S19j Pro Antminers. Depending on the model, S19j Pro can process SHA256 hash rates at a rate of 100 to 104 terahash per second. Using today’s BTC price, current mining difficulty, and an electricity bill of $0.12 per kilowatt hour (kWh), a S19j Pro machine can make a profit of $29 per day. According to the announcement, the entire batch cost of these machines is approximately US$120.7 million.

Marathon stated that it is expected that all 30,000 newly purchased mining machines will be delivered between January 2022 and June 2022. This timetable shows that the delivery time of new miners produced by today’s top manufacturers may be quite long. Marathon stated that after the rig is fully deployed, the company’s ownership will increase by 13.3 EH/s and “more than 133,000 Bitcoin miners.”

“If all Marathon miners are deployed today,” the mining company’s announcement detailed, “the company’s computing power will account for about 12% of the total Bitcoin network computing power, which is about 109 EH/s as of August 1, 2021. “

Marathon CEO believes that now is the best time to add new miners to the company’s fleet

Fred Thiel, CEO of Marathon, emphasized in the announcement that he believes that now is the best time to buy mining machines. “Increasing our percentage of the entire network’s hash rate increases our likelihood of earning Bitcoin, and given the unique favorable conditions in the current mining environment, we believe that now is a good time to add new miners to our business,” Thiel said. The Marathon CEO added:

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“With this new order, our business has grown by 30% to approximately 133,000 miners and a production speed of 13.3 EH/s. Therefore, once all miners are deployed, our mining business will become the largest, not only in North America. , And on a global scale.”

The number of Bitcoin miners in North America has been growing. Marathon, Riot, Hut8, Galaxy Digital, Hive Blockchain, Ankr, Argo Blockchain, Atnorth, Bit5ive LLC, Bitfarms, Bitfury, Bitquest, Compute North, Core Scientific and other companies purchased a large number of mining machines last year. The marathon was reached in December 2020 A record-breaking acquisition of mining equipment was made when the company purchased 70,000 Bitcoin mining machines from Bitmain.

What do you think of Marathon buying 30,000 Bitcoin mining machines from Bitmain? Please tell us your thoughts on this topic in the comments section below.

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120 million US dollars, 30,000 miners, 70,000 miners, Antminer, Antminer S19, ASIC miner, Bitcoin miner, Bitmain, BTC miner, Marathon, Merrick Okamoto, Miner purchase, Nasdaq: MARA, North America, S19 miner

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