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 <p class="is-style-lead">Marathon Digital has finalized a deal with Hut 8 to take over the operational control of Bitcoin mining sites by paying a termination fee of $13.5 million.</p>
 <p>Marathon’s control of the <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> <a rel="noopener noreferrer nofollow" title="sites" href="https://thebittimes.com/tag/sites.html">sites</a> in Granbury, Texas, and Kearney, Neb., slated for completion by April 30, follows Marathon’s Jan. 16 acquisition of the <a rel="noopener noreferrer nofollow" title="sites" href="https://thebittimes.com/tag/sites.html">sites</a> for $178.6 million. Hut 8 has managed operations under a contract inherited from a previous merger, valued at $1.2 million per month.</p>
 <p>The transition aims to enhance Marathon’s operational efficiency and cost-effectiveness in Bitcoin (BTC) mining at these locations.</p>
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 <p>“By operating the sites in Granbury and Kearney ourselves, we will be able to fully recognize the operational and economic benefits of owning these assets,” Marathon Digital CEO Fred Thiel said, expressing optimism about leveraging the company’s expertise for greater benefits.</p>
 <p>The agreement to shift control marks a significant step for both firms in optimizing their operations and strategic positioning within the crypto <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> sector. On the other side, citizens in Granbury have raised concerns about noise pollution attributed to <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> activities, showing the community impact of similar operations.</p>
 <p>Hut 8 President Asher Genoot praised the teams’ dedication at both <a rel="noopener noreferrer nofollow" title="sites" href="https://thebittimes.com/tag/sites.html">sites</a> and anticipated a smooth handover. Despite stepping down as the operator, the company will continue to offer managed services and self-<a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> activities.</p>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Hut 8 Corp. challenges short-seller report, claims financial solidity
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/marathon-digital-pays-hut-8-13-5m-to-run-two-bitcoin-mining-sites-tbt78694.html">https://thebittimes.com/marathon-digital-pays-hut-8-13-5m-to-run-two-bitcoin-mining-sites-tbt78694.html</a></p>

Marathon Digital pays Hut 8 $13.5m to run two Bitcoin mining sites

TheBitTimes

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