Bitcoin

The Garden

<a href="https://ultramining.com/news/en/marathon-digital-to-boost-energy-efficiency-with-s19-xp-miners/">Marathon</a> Digital Holdings has announced a definitive agreement to purchase a 200-megawatt (MW) Bitcoin mining data center located next to a wind farm in Garden City, <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">Texas</a>, for $87.3 million. This all-cash acquisition from Applied Digital Corporation marks a significant step in Marathon's strategic growth, propelling its Bitcoin mining capacity to 1.1 gigawatts. Remarkably, 54% of this capacity will now be directly owned and operated by Marathon, enhancing its control and efficiency in the mining sector, according to <a href="https://ir.mara.com/news-events/press-releases/detail/1347/marathon-digital-holdings-enters-definitive-agreement-to">Mara</a>. 
This acquisition is part of Marathon's broader strategy to expand its footprint in the Bitcoin <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a>, following the addition of two other <a href="https://ultramining.com/news/en/crypto-miners-shift-gears-ai-is-the-new-gold-rush/">data centers</a> earlier this year. The Garden City facility, which was energized in 2023 and employs around 25 people, aligns with Marathon's commitment to sustainability, utilizing renewable energy from an adjacent wind farm. 
The transaction, expected to close in the second quarter of 2024, not only increases Marathon's operational control but also promises a 20% reduction in the cost per coin mined at the site. This move is a testament to Marathon's agility and strategic vision in navigating the dynamic cryptocurrency mining landscape.

Marathon Digital’s Strategic Expansion: Acquiring a 200-MW Bitcoin Mining Center

Ultramining_Eng

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