The bitcoin mining operation Marathon has announced the company has secured 254 megawatts of new hosting deals with the option to increase to 324 megawatts (MW). Marathon’s latest expansion deals should support the bitcoin mining firm’s intended goal of securing approximately 23.3 exahash per second (EH/s).
Marathon Secures 254 MW of Bitcoin Mining Capacity — Firm Aims to Have 23.3 EH/S by 2023
The publicly-listed bitcoin miner Marathon (Nasdaq: MARA) has obtained 254 MW of hosting arrangements, with the option to increase to 324 MW, from a few different hosting providers. The news follows the outage Marathon experienced in mid-June in Montana when a storm knocked out operations and the company’s devices went offline.
Securing 254 MW of power will allow Marathon to reach the company’s 2023 goal to obtain 23.3 exahash per second (EH/s) of processing power. “With these new arrangements, we believe we have now secured enough hosting capacity to support our target of achieving approximately 23.3 [exahash] per second of computing power for bitcoin mining in 2023,” Fred Thiel, Marathon’s chairman and CEO, said on Monday. Thiel added:
[Each facility] is already under construction, which is critical for expediting installations. The first miners to be hosted under these new arrangements are scheduled to be installed in August, with installations ramping at other locations in the fourth quarter of this year and continuing into 2023.
Marathon Strikes Deals With Compute North and Applied Blockchain
Marathon and many other bitcoin mining operations saw significant growth in Q4 2021, securing thousands of next-generation bitcoin mining devices from manufacturers. In 2022, however, BTC mining profits have been much lower and reports have shown a number of bitcoin miners have felt the stress
