Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/marathon-digital-boosts-mining-capabilities-with-texas-facility-purchase" rel="noopener noreferrer nofollow">Marathon Digital Boosts Mining Capabilities with Texas Facility Purchase</a><br></p>
<p style="text-align: justify">Marathon Digital Holdings, a prominent player in <a href="https://en.bitcoinhaber.net/el-salvadors-bitcoin-adoption-journey" rel="noopener noreferrer nofollow">cryptocurrency</a> <a href="https://en.bitcoinhaber.net/bitcoin-miners-reduce-reserves-as-market-dynamics-shift" rel="noopener noreferrer nofollow">mining</a>, has recently finalized the acquisition of a 200 megawatt <a href="https://en.bitcoinhaber.net/microstrategy-expands-bitcoin-portfolio-with-bold-acquisition" rel="noopener noreferrer nofollow">Bitcoin</a> mining center in Texas for a sum of $87.3 million. The purchase from Applied Digital was paid for in cash from Marathon’s existing funds, with final adjustments to the price to be made. This strategic move is set to markedly expand Marathon’s mining capacity.</p>
<h2 id="enhanced-operations-and-reduced-costs">Enhanced Operations and Reduced Costs</h2>
<p style="text-align: justify">The new facility propels Marathon’s overall Bitcoin mining capacity to an impressive 1.1 gigawatts. Fred Thiel, Marathon’s CEO, expressed that the acquisition not only bolsters the company’s operational footprint but also slashes the cost of mining per Bitcoin by an estimated 20%. He also outlined future plans to further expand the Texas site within the year, which would diversify Marathon’s mining operations across multiple geographical locations.</p>
<p style="text-align: justify">Marathon’s recent performance has been noteworthy, with a whopping 229% increase in revenue to $387.5 million in 2023, further spurred by a significant rise in Bitcoin production. The company benefited from the heightened Bitcoin market at the tail end of the year, which saw a notable rally.</p>
<h2 id="adapting-to-bitcoin-s-halving-event">Adapting to Bitcoin’s Halving Event</h2>
<p style="text-align: justify">In addition to the expansion, Marathon has introduced a new service called Slipstream for efficient Bitcoin transactions, enhancing its offerings ahead of the Bitcoin blockchain’s halving event. This anticipated occurrence, which will slash rewards for mining by half, poses a challenge that Marathon and its peers must navigate as they adjust to the new reward structure in Bitcoin mining.</p>
<p style="text-align: justify">The upcoming halving event is expected in mid-April and will decrease the reward from 6.25 to 3.125 Bitcoins per block. This significant change will impact the profitability and strategy of large-scale miners like Marathon Digital.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/marathon-digital-boosts-mining-capabilities-with-texas-facility-purchase" rel="noopener noreferrer nofollow">Marathon Digital Boosts Mining Capabilities with Texas Facility Purchase</a></h5>

Marathon Digital Boosts Mining Capabilities with Texas Facility Purchase

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