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Bitcoin mining: Marathon to become US biggest miner with 2.56 Eh/s

TL;DR

  • Marathon has placed another order to increase its Bitcoin mining machines with additional 10,000 Antiminers.
  • The company estimates that its hash rate will reach 2.56 Eh/s.

The Bitcoin mining industry is gradually heating up, and there will be lots of competition in the coming years as mining companies continue to purchase next-generation miners. Recently, Marathon Patent Group, Inc., informed in a press statement that they opened a new contract with Chinese Bitcoin ASIC producer, Bitmain, to receive an additional 10,000 Antminer S19 Pro. 

Marathon targets 2.56 Eh/s

Per the information, Bitmain is expected to complete the 10,000 Antiminers S19 Pro shipping by March next year. As the agreement holds, the Bitcoin mining company will receive the deliveries in batches starting from January next year. The 10,000 Antiminers will be deployed faster than the company’s previous order made in August. Precisely, the new order will be entirely and fully deployed within Q1.

“As a result, there will be a substantial increase in our Bitcoin Mining revenue sooner than we had anticipated,” the company said.

Previously in August, Marathon ordered 10,500 Antiminers S19 Pro from Bitmain. The delivery is scheduled to begin also in January 2021. However, it will be completely and fully deployed in June, which is three months after the latest 10,000 Antiminers. Basically, all these miners are expected to raise the company’s Bitcoin mining power to 2.56 Eh/s when they are fully deployed.

On that hashing power, Marathon may become the largest Bitcoin mining company in the United States and in North America at large.

Bitcoin mining in 2021

The year 2021 might be very competitive for mining companies, as most of them have been adding next-generation machines to their fleet of miners. An example of these companies is Riot blockchain. Cryptopolitan recently reported that they intend to deploy about 22,640 next-generation miners by June 2021. The miners are expected to raise the company’s mining hash power to 2.3 Eh.

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Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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