Posted 12/19/2023, 3:19:00 PM
Marathon Digital Spends $179M to Acquire 2 New Mining Sites, Adding 390MW Capacity Ahead of 2024 Bitcoin Halving
- Marathon Digital buying 2 new mining sites from Generate Capital subsidiaries for $179M
- Sites will add 390 megawatts of mining capacity for Marathon
- Expected to reduce Marathon's cost per coin mined by around 30%
- Purchase aimed to capitalize on economies of scale ahead of bitcoin's halving in 2024
- 21% of new sites vacant for expansion, 63% occupied by bitcoin mining tenants, 16% occupied by Marathon