CryptoNewsBreaks – Marathon Digital Holdings Inc. (NASDAQ: MARA) Arranges for 254 MW of Hosting Arrangements with Options to Expand
July 20, 2022 at 12:02 PM EDT
Marathon Digital Holdings (NASDAQ: MARA), a leader in supporting and securing the Bitcoin ecosystem, has made arrangements with a variety of hosting providers to secure an estimated 254 megawatts (“MW”) of new hosting arrangements for its Bitcoin mining operations; arrangements include options to increase that amount to 324 MW. Hosting providers include Applied Blockchain Inc. (NASDAQ: APLD) and Compute North, with APLD agreeing to supply 200 MW of hosting, with an option to increase that amount to 270 MW. Applied Blockchain will provide hosting at its Texas and North Dakota facilities. Marathon now has hosting arrangements in place to support its goal of approximately 23.3 exahashes per second (“EH/s”) of computing power for Bitcoin mining. As a result of this arrangement, Applied Blockchain will supply Marathon with 90 megawatts of hosting capacity at its facility in Texas and at least 110 megawatts of hosting capacity at its second facility in North Dakota, which are under construction; installation of Marathon’s miners is anticipated to begin by Q4 2022. “With these new arrangements, 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 CEO and chair Fred Thiel in the press release. “Each of these facilities 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. We would like to thank each of our hosting providers for working with us on these arrangements and for helping us toward our intended goal of building Marathon into one of the leading Bitcoin miners in North America.”
To view the full press release, visit https://ccw.fm/IzZVW
About Marathon Digital Holdings
Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in North America, while remaining asset light. For more information about the company, please visit www.MarathonDH.com.
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