A contract has been signed between the popular publicly-traded Bitcoin self-mining firm Marathon Patent Group and the Beijing-based privately-owned firm Bitmain that provides cryptocurrency mining products. As per the signed contract, Marathon will purchase another 10,000 next-generation Antminer S-19 Pro ASIC Miners from Bitmain Technologies or shortly known as Bitmain. This purchase will further boost the mining capacity of Marathon.
With this purchase, the company will now have 23,560 miners as per the agreement and it will become the largest bitcoin mining firm in the region. Moreover, the total hash rate of the company will reach 2.56 EH/s. As soon as, these new machines are installed completely after their delivery each miner will be able to add 1.10 EH/s into the existing mining power of the firm by producing 110 TH/s.
Marathon is already working on boosting its mining capacity. This contract comes following the previous contract that was made by the firm with Bitmain in the month of August. At that time, Marathon made an agreement of $23 million with Bitmain for acquiring 10,500 miners.
As per an official press release by Marathon, Bitmain will start delivering these machines to the firm from January 2021. The full delivery of these S-19 Pro miners is expected to complete by the month of March in 2021. The new miners will be deployed within the first quarter of the next year. This delivery of new miners is expected to get complete three months earlier than the ones whose deal was made in August.
Commenting on this, the Chief Executive Officer (CEO) of Marathon Merrick Okamoto said, “upon delivery and full Installation of all purchased miners, the Company’s mining operations will include 23,560 next generation miners bringing our total hash rate to 2.56 Eh/s and making us the largest self-miner in North America.” Okamoto said that the company is pleased on continuing the growth of its mining operations.
The Antminer Sales Director of NCSA Region at Bitmain Irene Gao said in a statement that they are pleased to provide Marathon with new miners. Gao said that they will continue to collaborate and cooperate with Marathon in the future.