BlocksInform
Marathon digital backgrounds, a publicly quoted bitcoin mining company, last week announced a "record purchase" of bitmain asic, which, according to a deposit tuesday at the securities and exchange commission (sec) will cost more than $879 million and increase the fleet of miners by 78,000 machines.
marathon had disclosed broad information about its purchase last week when it announced it had entered into an agreement with bitmain to acquire a record number of bitcoin mining rigs. the company hadn’t disclosed how many miners it had bought or their price at the time but details have now been shared in an sec filing. The deal will add about 78,000 new Antminer s19 xp miners to the marathon fleet and will cost $879,060,000.
"with the latest acquisition of s19 xps, we will be growing our bitcoin mining operations to approximately 199,000 total miners and 23.3 eh/s by early 2023,” marathon ceo, fred thiel, said in an affidavit last week.
Under the agreement, marathon will receive 13,000 minors per month of bitmain between july and december 2022 and will pay 35% of the transaction amount within two days of contract execution. The remaining 65% will be paid separately for each batch when they arrive; marathon will pay 35% of the price of a lot at least six months before the batch shipment date and the last 30% one month before shipment.
Marathon is one of the biggest bitcoin miners registered in the capital markets of the United States. The company is trading on the nasdaq under the ticker symbol "mara" and has outperformed the Bitcoin price to date this year. The miner has earned 212.90% since the beginning of the year, while the LTO has increased 64.40% over the same period.
bitcoin miners in the u.s. have enjoyed greater profitability this year as a big chunk of the bitcoin hash rate went offline after china decided to ban the activity over the summer. As a country with the largest share of forced hashing operations on its closing ground, the problem with the mining system has been eliminated, increase the amount of btc that minors could produce with the same grinding rate capacity.
As Chinese miners recover and successfully move to foreign countries, the industry becomes more competitive, affecting the productivity of U.S. miners. in addition to a more difficult to mine digital currency, marathon in particular suffered in november from maintenance work on its power plants. The minor produced 196 Bitcoin last month, starting at 417.7 in October.
