Marathon takes off with 10,000 new Miners
Marathon is once again taking a strong position in Bitcoin Mining. 10,000 units of the latest generation were ordered. It also intends to establish a new position with the help of renewable energies.
On December 9, the Nasdaq-listed mining company Marathon announced that it will purchase a total of 10,000 Antminer S-19j Pro units from the Chinese mining manufacturer Bitmain. According to Marathon, the company will have a total of 33,560 ASIC miners after the acquisition of these new next generation Bitcoin miners. Their capacity is up to 3.56 Exahash (EH/s).
There is no denying that Marathon’s objective is to become the largest mining company in North America. To achieve this, the company is also counting on the help of the energy company Beowulf Energy. Marathon has announced that it is planning to open a new renewable energy data centre Ethereum Code scam in the northeastern United States together with Beowulf Energy. According to the announcement, Beowulf plans to supply Marathon with 100 (MW) megawatts of energy, with the option of upgrading to 250MW at a later date. In addition to the existing facility in the state of Montana, a second facility will be built, Montana CEO Merrick Namamoto reveals.
The new plant will mainly run on clean, renewable electricity. This is not only cost effective but also allows us to reduce our environmental footprint. We currently expect that the cost of operating our second plant will be similar to the industry-leading tariffs we have at our Hardin plant. These are $0.028 per kWh for electricity and $0.006 per kWh for hosting operations.
Marathon declares war on the competition
Marathon also says that Bitmain will deliver 6,000 S-19j Pro Miner in August 2021. The remaining 4,000 will then go to the company’s facility in Hardin, Montana in September. Once Bitmain has closed the deal, Marathon’s data centre in Hardin will be fully utilised with a consumption level of 100MW. In terms of cost efficiency, any ASIC Bitcoin miner with a hashrate between 80 and 100 terahash will earn over $8.50 USD or more per day per unit. This can be seen from a calculation by the news portal bitcoin.com.
Assuming that the electricity costs quoted by Okamoto are indeed accurate. The 3.56 exahash per second would then mean that Marathon can mine 14.5 BTC per day, given the current Bitcoin Mining Difficulty. These figures illustrate Marathon’s ambitions to extract a lion’s share of the hash rate from the western part of the world. It remains to be seen what countermeasures the competition will take in the form of Hut8 or Riot Blockchain.