Marathon Digital Acquires Large Bitcoin Mining Facility in Texas

Marathon Digital Holdings announced that they will acquire a large Bitcoin mining facility in Texas from Applied Digital for $87.3 million. This acquisition will be completed in cash and after all the arrangements are finalized. The acquired facility will increase the company’s overall mining capacity to 1.1 gigawatts. Board Chairman Fred Thiel stated that this step will save 20% on costs and provide an additional capacity of 100 megawatts. Additionally, Marathon Digital’s operations will now be diversified across three continents in eleven different fields. Financial Success and Revenue Increase Marathon Digital is drawing attention with its performance in the past year. Its revenues for the year 2023 reached $387.5 million, which is a 229% increase from the previous year and a 452% increase in the fourth quarter. This increase is attributed to the Bitcoin rally and the company’s 147% annual increase in Bitcoin production. New Services and Halving Process In […]

Marathon Digital Acquires Large Bitcoin Mining Facility in Texas

Marathon Digital Holdings announced that they will acquire a large Bitcoin mining facility in Texas from Applied Digital for $87.3 million. This acquisition will be completed in cash and after all the arrangements are finalized. The acquired facility will increase the company’s overall mining capacity to 1.1 gigawatts. Board Chairman Fred Thiel stated that this step will save 20% on costs and provide an additional capacity of 100 megawatts. Additionally, Marathon Digital’s operations will now be diversified across three continents in eleven different fields.

Financial Success and Revenue Increase

Marathon Digital is drawing attention with its performance in the past year. Its revenues for the year 2023 reached $387.5 million, which is a 229% increase from the previous year and a 452% increase in the fourth quarter. This increase is attributed to the Bitcoin rally and the company’s 147% annual increase in Bitcoin production.

New Services and Halving Process

In February, the company introduced a new Bitcoin transaction service, Slipstream, aimed at facilitating large and standard transactions. In the coming period, companies like Marathon Digital will have to manage the Bitcoin halving process, where mining rewards will be reduced by 50% for each block to 3,125 Bitcoin, which could have significant implications for major mining companies.

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