Marathon Digital Expands Compute North Hosting Deal to Over 100K Bitcoin Miners
The agreement will help Marathon’s operations become 77% carbon neutral.
Dec 1, 2021 at 3:05 p.m. UTCUpdated May 11, 2023 at 7:05 p.m. UTC
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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.
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Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets