The US-based mining company Marathon Digital Holdings signed an agreement with Bitmain to supply Antminer S19jPro miners.
Bitmain has agreed to supply Antminer S19j Pro miners to Marathon. The transaction was valued at $ 120.7 million. Marathon will be supplied by the equipment manufacturer in the first quarter of 2022. The company intends to increase the hashrate of the new equipment by 13.3 EH/s after it is up and running (exahesh).
The mining company generated 265.6 bitcoins during June. This is 17% greater than May’s. Marathon had 5784 bitcoins ($228 million at the current rate of bitcoin).
Fred Thiel, the Head of the company, believes now is a good time to increase the equipment’s fleet. Thiel hopes that the company can become the largest global player after it deploys new miners.
Bitcoin’s hashrate began recovering at the end of July after the biggest drop in history in June. The amount of computing power needed to mine the main cryptocurrency dropped by more than 50%. This was due to China’s ban on mining.