US mining firm buys 30,000 antminers for over $120 million from Bitmain

By Palak Malhotra
Published August 2, 2021 Updated August 2, 2021
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Image Source: Marathon Digital Holdings

US mining firm buys 30,000 antminers for over $120 million from Bitmain

By Palak Malhotra
Published August 2, 2021 Updated August 2, 2021

One of North America’s Bitcoin Mining giants, Marathon Digital Holdings, Inc. has bought an additional 30,000 Antminer S19j Pro (100 TH/s). The deal is valued at $120.7 million.

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Marathon has scheduled the delivery latest by June 2022. Post-delivery, the company would estimate more than 133,000 Bitcoin mining machines, that would produce approximately 13.3 EH/s upon all operations are functional. Bitcoin popularity has been bullish in the US and Marathon has hopped on the wagon of the BTC trend.

“Increasing our percentage of the total network’s hash rate increases our probability of earning bitcoin and given the uniquely favorable conditions in the current mining environment, we believe it is an opportune time to add new miners to our operations,” said Fred Thiel, Marathon’s CEO.

30% hike in BTC mining

The BTC mining company stated that its recent Antminer purchase has resulted in a 30 percent hike in its mining operations. Marathon is running for first place in BTC mining organizations throughout the US, and not just North America.

“With this new order, we are growing our operations by 30% to approximately 133,000 miners, producing 13.3 EH/s. As a result, once all miners are fully deployed, our mining operations will be among the largest, not just in North America, but globally. We’d like to thank the team at Bitmain for expediting this order as we work to further scale our operations and establish Marathon as one of the leading Bitcoin miners in North America.”, Fred Thiel added.

Marathon success dedicated to BTC mining

Marathon Digital Holdings’ Shares were up by 200.5% in the first half of 2021 and remain at a bullish 140%. Experts have dedicated the success to Marathon’s significant increase in Bitcoin mining activity. Marathon has become one of Bitmain’s largest customers with consecutively ordering large quantities of Antminers.

Antminer Sales Director of North, Central, and South America (NCSA) at Bitmain, Irene Gao commented, “Marathon is a key customer of Bitmain’s, and we appreciate the opportunity to support their growth with another large order for 30,000 of the industry’s most powerful and efficient miners.”

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Palak Malhotra
219 Articles
Journalism & Mass Comm. ‘21 graduate, Palak is a GenZ journalist with background in Lifestyle journalism & PR. At CoinGape, Palak is a junior crypto journalist preparing for Web 3.0

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