Future

Flux

Bitcoin

Million

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/marathon-digital-acquires-texas-bitcoin-mining-facility-for-87-3-million-2/" data-wpel-link="internal">Marathon Digital Acquires Texas Bitcoin Mining Facility for $87.3 Million</a><br></p>
<p class="p1" style="text-align: justify">Marathon Digital Holdings announced on March 15 that it had signed a definitive agreement with Applied Digital to purchase a 200 megawatt (MW) <a href="https://en.coin-turk.com/bitcoin-analyst-predicts-570-rise-in-price-and-highlights-feds-money-printing/" data-wpel-link="internal">Bitcoin</a> mining facility in Texas for $87.3 million. The deal specifies that Marathon will pay the purchase price in cash from its available assets and that the transaction will be finalized after all price adjustments have been made.</p> 
<h2 class="p1" style="text-align: justify" id="marathon-digital-s-notable-move">Marathon Digital’s Notable Move</h2> 
<p class="p1" style="text-align: justify">According to an announcement on Marathon Digital’s blog, this acquisition will increase the company’s total Bitcoin mining capacity to approximately 1.1 gigawatts. This is slightly less than the 1.21 gigawatts of electricity needed to power the fictional Flux Capacitor in the Back to the Future film series. Fred Thiel, Chairman and CEO of Marathon, commented on the matter:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“This transaction enhances our impact on our current operations, reduces our cost per token in the field by approximately 20%, and provides us with an additional 100 megawatts of capacity for expansion. Following the completion of this transaction and the expansion of the site within this year, our Bitcoin mining portfolio will consist of approximately 1.1 gigawatts of capacity, 54% of which will be located in sites we directly own and operate, and will be diversified across eleven sites on three continents.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">As recently reported, Marathon Digital achieved its best performance with a revenue of $387.5 million in 2023, a 229% increase over the previous year and a 452% increase in the fourth quarter. The increase in revenue is attributed to the Bitcoin rally at the end of 2023 and a year-over-year increase of 147% in Bitcoin production for Marathon Digital.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-298242 size-full" src="https://coin-turk.com/wp-content/uploads/2024/01/marathon-digital-coin-turk-com.jpeg" alt="" width="1200" height="627"></p> 
<h2 class="p1" style="text-align: justify" id="marathon-digital-and-the-halving-process">Marathon Digital and the Halving Process</h2> 
<p class="p1" style="text-align: justify">At the end of February, Marathon introduced a new direct Bitcoin transaction submission service called Slipstream. The new service was designed to facilitate and expedite large and non-standard transactions on the Bitcoin blockchain network and has since been implemented.</p> 
<p class="p1" style="text-align: justify">Next, mining companies like Marathon Digital will need to manage the upcoming halving process. This event, which will occur after a certain number of blocks have been mined on the Bitcoin blockchain network, is expected to take place in mid-April. The halving could have a significant impact on large-scale mining operations, as the rewards for mining a block will be cut by 50%, reducing from 6.25 Bitcoins per block to 3.125 Bitcoins.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/marathon-digital-acquires-texas-bitcoin-mining-facility-for-87-3-million-2/" data-wpel-link="internal">Marathon Digital Acquires Texas Bitcoin Mining Facility for $87.3 Million</a></h5>

Marathon Digital Acquires Texas Bitcoin Mining Facility for $87.3 Million

Table of Contents

COINTURK NEWS

Other articles published on Mar 15, 2024

Shiba Inu (SHIB) Price Prediction While Neo (NEO) Whales Rush To InsanityBets (IBET) Amid 17x Pot...

NFP Reacts Swiftly to Breach, Vows Enhanced Security

Aevo (AEVO) Price Rally Fizzles Out After Early Gains, Recovery Ahead?

Bitcoin Price is Crashing. What’s Going On?

ChainGPT Pad Supercharges the Rise of Engines of Fury with the Acceleration Program

Blockchain AI platform NetMind assures no platform breach amid NMT token sale speculation

Join our free newsletter for daily crypto updates!