Enterprise Bitcoin mining company Marathon Digital is purchasing an additional 30,000 Antminer S19j Pro miners for $120.7 million.
Marathon expects Bitmain to have shipped all 30,000 newly purchased miners between January 2022 and June 2022. Once this happens, the Company’s mining operations are expected to consist of more than 133,000 Bitcoin miners. These will produce approximately 13.3 EH/s once all miners are fully deployed and operational.
“Increasing our percentage of the total network’s hash rate increases our probability of earning bitcoin, and given the uniquely favorable conditions in the current mining environment, we believe it is an opportune time to add new miners to our operations,” said Marathon CEO Fred Thiel. For context, if all of Marathon’s miners were deployed today, its hash rate would represent approximately 12% of the Bitcoin network’s total hash rate.