Core

Bitcoin

Block

Million

Three of the largest Bitcoin mining companies, holding nearly 10% of the market share, have made significant <a href="https://ultramining.com/hardware/" rel="noopener noreferrer nofollow">hardware</a> deposits totaling $150 million since Q2. Marathon, <a href="https://ultramining.com/news/en/bitcoin-mining-giant-core-scientific-prepares-for-post-bankruptcy-comeback/" rel="noopener noreferrer nofollow">Core Scientific</a>, and Riot Platforms are diversifying their equipment sources, moving away from their previous reliance on <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a>, according to <a href="https://theminermag.com/news/2024-08-08/mara-corz-bitcoin-miner-payment/" rel="noopener noreferrer nofollow">TheMinerMag</a>.
Marathon, in its Q2 filing, revealed an additional advance payment of $29.1 million to Auradine for Teraflux <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a>, bringing its total deposits to $43.6 million. This follows a $15 million payment made last year. Marathon has also invested $48.7 million in equity into Auradine.
Core Scientific disclosed a $10 million deposit for a 15 EH/s Bitcoin ASIC system from Block Inc. This order comes after Core received all ordered Antminer units from Bitmain, totaling 6.7 EH/s. Notably, $50 million of this payment was made in Core’s common stock, making Bitmain a shareholder.
Riot Platforms, which preordered WhatsMiners last year, made $110 million in deposits and advance payments to MicroBT in Q2, totaling $412.9 million by June 30. Riot has a remaining commitment of $148 million to MicroBT, Bitmain's biggest competitor.
Auradine recently announced the initial deliveries of its Teraflux 2800 series Bitcoin miners, with production ramping up in Q3. Additionally, MicroBT launched its M6XS+ WhatsMiner models, boasting an efficiency of 17 J/TH. These strategic moves by Marathon, Core Scientific, and Riot Platforms signify a significant shift in the <a href="https://ultramining.com/en/hardware/" rel="noopener noreferrer nofollow">Bitcoin mining hardware</a> market, challenging Bitmain's dominance.

Bitcoin Miners Invest $150 Million in New Equipment, Moving Away from Bitmain

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