Marathon Digital Still Running During Crypto Winter

Bitcoin mining company Marathon Digital Holdings has secured a power supply agreement to generate enough energy to contribute 23.3 exahashes per second (EH/s) to the Bitcoin network.

On July 18, Marathon reported that the company has partnered with data center operator Applied Blockchain to store 254 megawatts of electricity, with the option to add 70 megawatts from various other providers, including Compute North. Marathon expects this storage contract to help them achieve their goal of 23.3 EH/s in computing power by 2023.

This proves the company is looking to overcome its current difficulties because most other miners are massively dumping Bitcoin.

Marathon chose to secure the energy they need in Bitcoin mining, which accounts for a more substantial portion of the BTC hashrate. Basically, Exahashes per second (EH/s) refers to the amount of power a miner contributes to secure the Bitcoin network.

Specifically, Applied Blockchain will provide 90 megawatts to the Marathon mining facility in Texas and 110 to 180 megawatts to the North Dakota facility. Combined, these mining farms will contribute about 9.2 EH/s.

In addition, the company also announced that various retail vendors would also support up to 12 megawatts, or 0.8 EH/s, bringing the total new capacity to 324 megawatts.

Finally, Compute North received regulatory approval to provide 42 megawatts of storage for Marathon at its Granbury, Texas facility. That location will house 26,000 mining devices, contributing about 3.6 EH/s by 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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