Publicly traded cryptocurrency mining firm Marathon Patent Group is planning to receive 1,360 additional bitcoin mining rigs in August in a rollout that will rocket its Quebec facility’s hashpower up 320% to 184 peta hashes.
- The company said in a press release it expects 700 newly bought M31S+ ASIC Miners from MicroBT and 660 previously ordered Bitmain S-19 Pro Miners to arrive in mid-August.
- Marathon has purchased 3,020 total rigs from the fiercely competitive mining rivals in the past few months. It already has 700 active MicroBT miners, and, in addition to the August arrivals, is waiting on 1,000 more from Bitmain coming in Q4.
- “Based on current bitcoin prices, the company would expect to become cash flow positive” once it installs the August rigs, CEO Merrick Okamoto said in a press statement.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.