Bitcoin

Read

<div class="cryptonews">
 <p class="is-style-lead">Marathon Digital secures a cash deal with Generate Capital and a PBC subsidiary to <a rel="noopener noreferrer nofollow" title="acquire" href="https://thebittimes.com/tag/acquire.html">acquire</a> two operational Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> farms, expanding its capacity to around 390 megawatts.</p>
 <p>As stated in the&nbsp;Dec. 19 release, the transaction marks Marathon’s shift from an asset-light organization to managing a diversified Bitcoin <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> portfolio, acquiring its first fully owned <a rel="noopener noreferrer nofollow" title="sites" href="https://thebittimes.com/tag/sites.html">sites</a>. Currently holding 584 megawatts, with 3% owned and 97% hosted by third parties, the acquisition will bring the total capacity to approximately 910 megawatts.&nbsp;</p>
 <p>Following the deal, 45% will be on Marathon-owned <a rel="noopener noreferrer nofollow" title="sites" href="https://thebittimes.com/tag/sites.html">sites</a>, expanding opportunities for future growth and potentially doubling the operational hash rate to around 50 exahashes within the next 18-24 months.</p>
 <p>As per the agreement terms, Generate will transfer ownership of data centers in Granbury, Texas, and Kearney, Neb., currently operated by third parties, to Marathon in exchange for $178.6 million, or $458,000 per megawatt, subject to adjustments, to be paid in cash from Marathon’s balance sheet. The transaction, contingent on customary closing conditions, is anticipated to conclude in the first quarter of 2024.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Marathon Digital mined 1,187 BTC in November amidst record network difficulty
 </div>
 <figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
  <div class="wp-block-embed__wrapper"><iframe title="Marathon Digital CEO on Bitcoin's regulatory landscape" width="1020" height="574" src="https://www.youtube.com/embed/jSkXF28dIoQ?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
  </div>
 </figure>
 <p>This announcement contrasts a report from last&nbsp;month, in which the firm outlined plans for international expansion before the Bitcoin halving. At the time, this change in approach was said to establish the firm as the most geographically diversified miner, potentially resulting in a gradual reduction in production costs.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Marathon stock jumps 11% amid global expansion
 </div>
 <p></p> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/marathon-digital-acquires-bitcoin-mining-sites-in-179m-deal-tbt74197.html">https://thebittimes.com/marathon-digital-acquires-bitcoin-mining-sites-in-179m-deal-tbt74197.html</a></p>

Marathon Digital acquires Bitcoin mining sites in $179m deal

TheBitTimes

Other articles published on Dec 19, 2023

SEC Holding Off Ethereum ETFs, Expected to Arrive in May 2024

Demystifying Zeebu’s Revolutionary Approach to B2B Settlements

Venture Capitalist Warns Bitcoin Falling Below Major Support Zone a ‘Foregone Conclusion’ if This...

KuCoin settles with New York Attorney General, Injective and Everlodge rallying

ARK Invest Has Amended Its Bitcoin Spot ETF

Shiba Inu (SHIB) Unveils “Partnershib” With Web3 Domain Player

Join our free newsletter for daily crypto updates!