Marathon Secures 200-Megawatt Hosting Deal For Bitcoin Mining Opeartions
- Marathon Digital has scored a deal with hosting services provider Applied Blockchain
- The deal will bring at least 200 megawatts of energy capacity for Marathon
American Nasdaq-listed Bitcoin mining giant Marathon Digital has recently announced the closing of a deal with hosting services provider Applied Blockchain. The deal will bring at least 200 megawatts of energy capacity for Marathon, with the option to increase it to 270 megawatts.
According to the announcement made on Monday, Marathon Digital will deploy around 66,000 previously purchased miners, which represents a potential hash rate of 9.2 exahash per second (EH/s) across its two hosting facilities.
Notably, under the new arrangement, Applied Blockchain will supply the mining company with 90 megawatts of energy capacity at its hosting facility in Texas and over 110 megawatts of capacity at its North Dakota facility.
It is interesting to note that this deal is on top of an additional 42 megawatts of energy capacity that the company has already secured with Compute North, along with 12 megawatts from other providers. Therefore, in total, the company now has 254 megawatts to 324 megawatts of new hosting arrangements from multiple hosting providers.
“Marathon believes it has now secured ample hosting arrangements to support the Company’s previously stated goal of approximately 23.3 exahashes per second (“EH/s”) of computing power for Bitcoin mining.”
the announcement reads.
The CEO and chairman of Applied Blockchain, Wes Cummins, commented on the new deal and said that demand for his company’s hosting services remains high despite the recent adverse volatile situations in the crypto market.
“[High demand for Applied Blockchain’s hosting services] gives us continued confidence in the growth potential of our business for fiscal 2023 and beyond.”
He added.
Notably, Applied Blockchain’s facilities are currently under construction, and miner installation will begin in the fourth quarter of this year. The company aims to complete the construction by around mid-2023.
On the other hand, Marathon Digital continues to solidify its position in the crypto mining sector. Recently, the company shared some Bitcoin production and mining operation updates for June 2022, which revealed that it produced 707 self-mined BTC during Q2 2022, representing an 8% increase from 654 BTC mined in Q2 2021. However, it saw the BTC mining production falling by 47.8% in June after a storm seriously affected much of its mining fleet offline.
“We believe we have now secured enough hosting capacity to support our target of achieving approximately 23.3 exahashes per second of computing power for Bitcoin mining in 2023.”
said Marathon’s CEO and chairman Fred Thiel.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
