🚀 Marathon Digital Boosts Its Mining Operations
posted 19 Dec 2023
Marathon Digital (MARA), a leading public Bitcoin mining company, has finalized a deal to acquire two mining facilities with a combined capacity of 390 megawatts for $179 million from Generate Capital's subsidiaries. This acquisition is set to boost MARA's self-operated production capacity from a mere 3% to a substantial 45%.
Additionally, it's projected that these new facilities will double the company’s Bitcoin hashing (mining) speed to 50 EH/s within the next two years. The completion of this deal is anticipated in the first quarter of 2024.
In the backdrop of Bitcoin's surge, Marathon Digital's stock has seen an impressive rise since early 2023, recording an increase of about 484%, in stark contrast to Bitcoin's own price increase of 149% during the same timeframe.
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