Marathon Spends $178M to Buy Two Bitcoin Mining Facilities
Marathon Digital has agreed to purchase two Bitcoin mining facilities from subsidiaries of Generate Capital for $178.6 million.
The two data centers have a combined capacity of 390 MW and will increase Marathon’s overall output to 910 MW once the deal is finalized.
This move marks Marathon’s transition from an asset-light company to one that operates a diverse and sustainable portfolio of Bitcoin mining operations.
The company expects this agreement to double their operational hash rate to approximately 50 EH/s in the next 18-24 months.
The transaction will transfer ownership of data centers in Texas and Nebraska and is expected to be completed in the first quarter of 2024.
In addition, Marathon has previously announced plans to launch a 27 MW facility in Paraguay that will use 100% renewable hydroelectricity to produce Bitcoin.
