(MENAFN- Investor Ideas)
October 26, 2020 (Investorideas Newswire) Blockchain Stock News Bites: Marathon Patent Group, Inc. (NASDAQ:MARA ) ("Marathon" or "Company") he largest publicly traded bitcoin self-mining companies in North America, today announced that it has entered into a contract with Bitmain to purchase an additional 10,000 next generation Antminer S-19 Pro ASIC Miners.
Projected Hashrate
Each miner produces 110 TH/s (Terahash) adding 1.10 EH/s (Exahash) to the Company's existing operation of 2,560 miners. 500 additional S-19 Pro Miners will arrive at Marathon's Hardin MT facility in November 2020. Beginning in 2021, the Company will receive the following shipments of S-19 Pro Miners: 4,000 in January, 6,300 in February, 4,800 in March, 1,800 in April, 1,800 in May and finally 1,800 in June.
Marathon's chief executive officer, Merrick Okamoto, stated,“We are pleased to announce the continued growth of our mining operations against the backdrop of recently increasing Bitcoin prices. Upon delivery and full Installation of all purchased miners, the Company's mining operations will include 23,560 next generation miners bringing our total hashrate to 2.56 Eh/s and making us the largest self-miner in North America.
“The delivery of these new 10,000 S-19 Pro miners is scheduled to begin in January 2021 and will be completed by March 2021. It is important to note that this delivery is quicker than our previous order for 10,500 miners, which will be delivered between January and June 2021. These new 10,000 miners are expected to all be deployed in Q1, three months earlier than our last purchase. As a result, there will be a substantial increase in our Bitcoin Mining revenue sooner than we had anticipated.”
Irene Gao, Antminer Sales Director of NCSA Region, Bitmain, commented, "We are pleased to have provided Marathon with another 10,000 of Bitmain's latest generation of Antminer S-19 Pro mining hardware. Equipped with the most advanced chipset currently available, the high-performance and low power consumption of the miners will significantly improve operations of Marathon's mining business. This collaboration continues to strengthen our cooperation and will extend to future work together as Marathon expands its presence in the mining industry.”
Read the company's full news and disclaimer here:
more bitcoin, crypto and blockchain stocks
with Investorideas stock directory
About Investorideas - News that Inspires Big Investing Ideas Investorideas is a recognized news source publishing third party news, research and original financial content. Learn about investing in stocks and sector trends with our news alerts, articles, podcasts and videos, looking at cannabis, crypto, AI and IoT, mining, sports biotech, water, renewable energy and more. Investor Idea's original branded content includes the following podcasts and columns : Crypto Corner , Play by Play sports and stock news column, Investor Ideas Potcasts Cannabis News and Stocks on the Move podcast and column,
Cleantech and Climate Change , Exploring Mining
the AI Eye .
Stock Bites is a branded product of Investorideas
Disclaimer/Disclosure:
Investorideas is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. This stock bites news release publication is available as
a paid for service on Investorideas
News-Upload/
More disclaimer info:
Learn more about publishing your news release and our other news services on the Investorideas newswire
News-Upload/ and tickertagstocknews
Global investors must adhere to regulations of each country. Please read Investorideas privacy policy:
Follow us on Twitter
Follow us on Facebook
Follow us on YouTube
Download our Mobile App for iPhone and Android
Get free investor news alerts
Contact Investorideas
800 665 0411
Get more Bitcoin, Blockchain, Digital Currency stock investor ideas - news, articles, podcasts and stock directories
Buy a crypto guest post on Investorideas
MENAFN20122024000142011025ID1109015663
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.