Future

Million

In the closing quarter of 2024, <a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a> Digital Holdings made a significant stride in its bitcoin mining endeavors, marking a notable departure from its usual disclosure practices. Without the fanfare typical of industry announcements, Marathon quietly earmarked a hefty $72 million for miner prepayments, as unveiled in its latest annual report. This move escalated the company's "advances to vendors" to a striking $96 million by year-end, a substantial leap from $24 million just three months prior, according to <a href="https://theminermag.com/news/2024-02-29/marathon-bitcoin-miner-teraflux/">TheMinerMag</a>. 
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This financial maneuver underscores Marathon's calculated bet on the future of bitcoin mining technology, with a particular focus on securing the next generation of <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/">mining equipment</a>. A pivotal component of this strategy was a $15 million payment to Auradine, a portfolio company, in September. This investment wasn't just a transaction; it was a strategic placement, securing Marathon's access to the forthcoming <a href="https://ultramining.com/news/en/crypto-mining-stocks-outshine-bitcoins-performance-in-2023/">stocks</a> of Teraflux miners, a product boasting state-of-the-art ASIC chips designed in the <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/">U.S.</a>, promising efficiencies up to 15 J/TH. 
Auradine's Teraflux miners, launched in November, represent a leap forward in mining efficiency and are set to ship in substantial volumes by Q2. Marathon's commitment is further solidified by its $35 million equity stake in Auradine and CEO Fred Thiel's board position, highlighting a deep-seated belief in Auradine's potential to revolutionize bitcoin mining with its advanced technology.&nbsp; 
The operational aspect of Marathon's strategy is equally compelling. With an energized <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/">hashrate</a> of 24.7 EH/s as of December 31, primarily from <a href="https://ultramining.com/en/manufacturers/bitmain/">Bitmain</a>’s <a href="https://ultramining.com//en/hardware/antminer-s19/">Antminer S19</a> Pros and S19XPs acquired in the 2021 cycle, Marathon navigated through a period where much of its inventory lay dormant. The resurgence in the latter half of 2023, leading to full energization, signifies Marathon's recovery trajectory and its readiness to capitalize on its strategic investments.

Marathon’s Strategic Bet: A $72 Million Leap into Future Mining Power

Ultramining_Eng

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