Posted 12/19/2023, 10:35:37 PM
Marathon Digital Bolsters Bitcoin Mining Capacity Ahead of Impending Supply Shock
- Marathon Digital Holdings acquiring 2 new Bitcoin mining sites in Texas & Nebraska for $178.6 million to add 390 megawatts of mining capacity and reduce mining costs by 30%
- Bitcoin "halving" event happens every 4 years, cutting miner rewards from 6.25 BTC to 3.125 BTC per block to control Bitcoin inflation
- Marathon strengthening balance sheet in preparation, increasing cash position, adding to Bitcoin holdings, reducing debt
- Acquisition to reduce Marathon's bitcoin production costs, capitalize on energy hedging, expand operational capacity
- Upcoming halving expected in April; question if priced in or will drive price up due to increased scarcity