Bitcoin mining companies seem to be positioning themselves for the next big move in Bitcoin. And Marathon Digital, one of the most prolific Bitcoin mining operators globally, is no exception.
What’s happening:
- Marathon Digital Holdings (NASDAQ: MARA) has entered into an agreement to purchase two operating Bitcoin mining locations in Texas and Nebraska
- The two locations are currently owned by subsidiaries of Generate Capital and will significantly increase Marathon’s total megawatt capacity
By the numbers:
- Marathon will spend $178.6M USD to acquire the two new Bitcoin mining operations
- The new Bitcoin mining sites will increase Marathon’s total megawatt capacity by 56%
- After the acquisition Marathon will have a total of 910 megawatts of combined capacity across all of their operations
Going deeper:
- Multiple publicly listed Bitcoin miners have been ramping up the scale of their operations ahead of the next Bitcoin halving and potential spot ETF approvals, which many see as enormous catalysts for the price of Bitcoin
The intrigue:
- Marathon has recently been experimenting with innovative ways to approach Bitcoin mining, including a notable partnership with Nodal Power to turn methane gas emissions into energy to power Bitcoin mining data centres
