Compute North and Marathon Digital extended their hosting agreement to more than 100,000 bitcoin mining machines across the U.S., according to a statement issued on Wednesday. The units will be powered mostly by wind and solar energy.
- The agreement is an expansion of the companies’ previous hosting deal of 73,000 miners in May.
- The pact will make Marathon’s mining operations “not only be among the largest in North America, but also among the most efficient and most environmentally friendly,” said Marathon’s CEO Fred Thiel.
- The deal will make Marathon’s mining operations about 77% carbon neutral.
- Some of the miners are being deployed at existing data centers while the rest will be online by mid-2022 as Compute North completes construction of its facilities.
- On Nov. 2, Marathon said once it receives all outstanding purchase orders, it expects to have approximately 133,000 operational miners generating about 13.3 exahash per second. Its “blended” cost of electricity and hosting will be about $0.042 per kilowatt hour.
- Marathon Digital shares climbed 6.5% in early trading on Wednesday.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.