{"id":11646,"date":"2024-03-15T17:29:37","date_gmt":"2024-03-15T15:29:37","guid":{"rendered":"https:\/\/forklog.com\/en\/marathon-digital-to-acquire-200-mw-bitcoin-farm-for-87-million\/"},"modified":"2024-03-15T17:29:37","modified_gmt":"2024-03-15T15:29:37","slug":"marathon-digital-to-acquire-200-mw-bitcoin-farm-for-87-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/marathon-digital-to-acquire-200-mw-bitcoin-farm-for-87-million\/","title":{"rendered":"Marathon Digital to Acquire 200 MW Bitcoin Farm for $87 Million"},"content":{"rendered":"<p>Mining firm Marathon Digital Holdings has finalized an agreement to purchase a 200 MW data center in Garden City, Texas, from Applied Digital Corporation.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The transaction is expected to close in the second quarter of 2024. Read the full press release: <a href=\"https:\/\/t.co\/oDG4wgHy32\">https:\/\/t.co\/oDG4wgHy32<\/a><\/p>\n<p>\u2014 Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) <a href=\"https:\/\/twitter.com\/MarathonDH\/status\/1768616762348589412?ref_src=twsrc%5Etfw\">March 15, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The deal is valued at $87.3 million, which Marathon will fully pay in cash from its balance sheet.<\/p>\n<p>According to the statement, the acquisition will boost the company&#8217;s mining capacity to 1.1 GW, with more than half (54%) of this capacity coming from Marathon&#8217;s own facilities.<\/p>\n<p>The company is a hosting client at the Applied Digital site, utilizing about 100 MW. The deployed equipment generates a hash rate of approximately 4.5 EH\/s.<\/p>\n<p>Fred Thiel, Chairman and CEO of Marathon, stated that gaining control over the data center will reduce the cost of bitcoin mining there by about 20%.<\/p>\n<p>The Applied Digital facility was commissioned and connected to the power grid in 2023. It is powered by a nearby wind farm and employs around 25 staff.<\/p>\n<p>Marathon aims to increase the facility&#8217;s capacity by 100 MW by the end of 2024. Regulatory approval for 32 MW of this expansion is expected before the deal closes in the second quarter.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAs close partners of Applied Digital, we are well-acquainted with the facility. Therefore, we anticipate a smooth transition as we work to integrate this data center into our diversified bitcoin mining asset portfolio,\u201d Thiel stated.<\/p>\n<\/blockquote>\n<p>Back in November, Florida-based Marathon began bitcoin mining operations in Paraguay. The company has also <a href=\"https:\/\/u1f987.com\/en\/news\/marathon-digital-eyes-african-expansion-for-bitcoin-mining\">considered expansion<\/a> into Africa.<\/p>\n<p>Meanwhile, the U.S. presidential administration has revisited the idea of a 30% tax on electricity for miners.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mining firm Marathon Digital Holdings has finalized an agreement to purchase a 200 MW data center in Garden City, Texas, from Applied Digital Corporation. The transaction is expected to close in the second quarter of 2024. Read the full press release: https:\/\/t.co\/oDG4wgHy32 \u2014 Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) March 15, 2024 The deal is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1185],"class_list":["post-11646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-marathon-digital-holdings"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11646"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11646\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11645"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}