Bitcoin mining company Marathon Digital Holdings has recently announced a significant move towards increasing its operational capacity.
Marathon has entered into a purchase agreement to acquire two operational Bitcoin mining sites, amounting to 390 megawatts of capacity. The deal, valued at $178.6 million, marks Marathon’s transition from an asset-light organization to one managing a diversified and resilient portfolio of Bitcoin mining operations.
Marathon Digital Bolsters Operations
According to a recent statement, the acquisition represents Marathon’s first fully owned sites, pointing to a pivotal shift in its business model.
Currently, Marathon’s Bitcoin mining portfolio has 584 megawatts of capacity, with only 3% directly owned and operated by the company.
BeInCrypto recently reported that Marathon Digital has grown its Bitcoin production by 467% in one year.
However, following this acquisition, Marathon’s portfolio will surge to approximately 910 megawatts, with 45% directly owned sites and 55% hosted by third parties.
This comes amid Bitcoin’s price seeing a surge in recent times. At the time of publication, Bitcoin’s price stands at $42,310.
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Author: Ciaran Lyons
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