Marathon Digital Adds New BTC Mining Sites as Bitcoin ETF Craze Heats Up

InvestorPlace01-17

Marathon Digital (MARA) has closed its acquisition of two Bitcoin (BTC-USD) mining sites with 390 megawatts of total operational capacity.Marathon paid $178.6 million, or $458,000 per megawatt.MARA ...

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shams_Trader
01-17
shams_Trader
The aboce article lacks basic knowledge if Crypto ,its mining, how bitcoins available in the market/ platforms. MARA is a leading Bitocin miner with large market cap, this is the source of Bitcoins. The kore demand for Bitcoins its the more demand for the minininf companies. Its similar to gold, Diamond, other precious metals miners. MARA going to be $100 by year end 2024

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This was largely attributed to the Securities and Exchange Commission’s (SEC’s) approval of several spot Bitcoin exchange-traded products (ETPs). Following the approval, 11 Bitcoin exchange-traded funds (ETFs) made their debut on the market.Bitcoin ETFs aren’t good news for Marathon, as many shareholders had invested in MARA stock as a proxy for Bitcoin. With Bitcoin ETFs now on the market, shareholders may want to purchase the ETFs over Marathon.Still, Marathon isn’t going away quietly. The company announced that it had closed its previously announced acquisition of two Bitcoin mining sites with a combined capacity of 390 megawatts of operational capacity.MARA Stock: Marathon Closes Acquisition of Two Bitcoin Mining SitesMarathon previously had a total capacity of 584 megawatts before the acquisition. The Bitcoin mining company purchased the sites from subsidiaries of Generate Capital for $178.6 million in cash, or $458,000 per megawatt.“Our mining portfolio now consists of approximately 910 megawatts of capacity, 45% of which resides on sites we directly own, and 55% of which is hosted by third parties,” said CEO and Chairman Fred Thiel. “We look forward to integrating these assets into our portfolio, where we can leverage our cutting-edge technologies to improve efficiencies, and, over the next 18-24 months, scaling our operations to 50 exahashes of capacity.”Additionally, 244 of the 390 megawatts are occupied by other miners. Eighty-two megawatts are vacant and ready for expansion. Meanwhile, the remaining 64 megawatts are already controlled by Marathon and available for operational improvements. Marathon intends to take control of the 244 megawatts once the hosts leave the site. In total, the transaction should reduce Marathon’s cost per coin at its current operations by about 30%.Meanwhile, Marathon had a record December, mining 1,853 Bitcoins, bringing its 2023 total to 12,852. Its average operational hash rate increased by 18% month-over-month to 22.4 exahashes per second.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":264007051710720,"gmtCreate":1705474151154,"gmtModify":1705474808544,"author":{"id":"3580257082212440","authorId":"3580257082212440","name":"shams_Trader","avatar":"https://community-static.tradeup.com/news/360465fe8cac8dd587177ad9080b3356","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3580257082212440","authorIdStr":"3580257082212440"},"htmlText":"The aboce article lacks basic&nbsp;knowledge if Crypto ,its mining, how bitcoins available in the market/ platforms. MARA is a leading Bitocin miner with large market cap, this is the source of Bitcoins. The kore demand for Bitcoins its the more demand for the minininf companies. Its similar to gold, Diamond, other precious metals miners. MARA going to be $100 by year end 2024","listText":"The aboce article lacks basic&nbsp;knowledge if Crypto ,its mining, how bitcoins available in the market/ platforms. MARA is a leading Bitocin miner with large market cap, this is the source of Bitcoins. The kore demand for Bitcoins its the more demand for the minininf companies. Its similar to gold, Diamond, other precious metals miners. MARA going to be $100 by year end 2024","text":"The aboce article lacks basic knowledge if Crypto ,its mining, how bitcoins available in the market/ platforms. MARA is a leading Bitocin miner with large market cap, this is the source of Bitcoins. The kore demand for Bitcoins its the more demand for the minininf companies. Its similar to gold, Diamond, other precious metals miners. MARA going to be $100 by year end 2024","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/264007051710720","repostId":1186884158,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":5,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1186884158"}