Cryptocurrency Stock News Bites: Marathon Patent Group (NASDAQ: $MARA) Buys 70,000 S-19 ASIC Miners From Bitmain For $170 Million

(MENAFN – Investor Strategies)
December 28, 2020 (Investorideas.com Newswire) Cryptocurrency Inventory Information Bites: Marathon Patent Team, Inc. (NASDAQ:MARA ) (“Marathon” or “Company”) a person of the premier company Bitcoin self-mining businesses in North The usa, has entered into a agreement with Bitmain to invest in 70,000 Antminer S-19 ASIC miners.

Underneath the phrases of the settlement, Marathon anticipates acquiring an preliminary batch of 7,000 S-19 miners in July 2021 and the closing shipment in December 2021. When all miners are fully deployed, the Company’s mining fleet will consist of much more than 103,000 miners able of creating 10.36 EH/s. This landscape transforming purchase of these miners a lot more than triples the measurement of Marathon’s existing fleet of 33,000 miners.

Marathon’s Chairman and Chief Executive Officer, Merrick Okamoto, said, “This invest in is the major buy in greenback phrases as nicely as the solitary biggest get for S-19 ASIC miners that Bitmain has ever been given. We enjoy the really hard operate their workforce is placing in to fulfil this order as nicely as the 30,000 S-19 miners we have bought given that August 2020. Our relationship with Bitmain is an crucial part of our possible for future achievements, and we seem ahead to continuing functioning with them to scale our small business.”

Antminer Gross sales Director of North, Central, and South The us (NCSA) at Bitmain Irene Gao commented, “We are thrilled that Bitmain has gained this file-breaking order agreement from Marathon. Marathon has promptly develop into our major client, and our partnership proceeds to mutually gain both of our firms.”

Read through the company’s total information and disclaimer here:

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