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Las Vegas-based Bitcoin mining company, Marathon Digital, is purchasing a record number of Antminer S19 XP (140 TH/s) bitcoin miners. The announcement was made on Thursday with the deal being the largest single order of Antminer S19 XP bitcoin miners ever from Bitmain.
While on December 1, Marathon had 31,000 operational miners, producing 3.2 EX/s, the company is working towards having 199,000 operational miners generating 23.3 EH/s by early 2023. The figures are revised from October when the mining company expected to have 133,000 operational miners generating 13.3 EH/s by mid-2022.
At the time of writing. Marathon Digital (MARA) shares are up nearly 17% since the announcement on Thursday. With Global Investment Manager BlackRock having a 7% share in Marathon, it has shown to be be a great investment with MARA shares surging over 750% in a year’s time.
Marathon CEO Fred Thiel said in a statement:
“Given the strength of our balance sheet and our asset-light model, which allows us to invest our capital into mining machines rather than infrastructure, we were uniquely positioned to place the largest single order of S19 XPs, in terms of total hash rate, Bitmain has ever received.”