Marathon Patent Group has just announced the acquisition of 10 thousand ASIC equipment for mining in the Bitcoin network, adding a total of 33.560 next-generation ASIC miners under its power, which will generate 3,56 EH/s of power in the network.
The euphoria that the cryptocurrencies, It is not only seen in investors, who seek to grow their investment portfolios with these assets, but also in the companies that are dedicated to the activity that makes the operation of Bitcoin possible: mining.
A few days ago, this medium reported that the growing cryptocurrency mining industry generated rewards for miners of more than 500 million during the month of November, only online Bitcoin (BTC). A network that until now is being controlled in hash rate, or computational power, by mining companies based in China, which place this nation worldwide as the one with the highest concentration of computing power in the Bitcoin network, with between 50% and 65% under its domain and control.
Now, new cryptocurrency mining projects are being born in other regions of the world, such as Titan Pool and Doctorminer, which are new mining pools located in North America and Latin America, respectively. Likewise, other established cryptocurrency mining companies are expanding their potential, such as Marathon Patent Group, which has just announced the acquisition of 10.000 new state-of-the-art ASIC equipment, Antminer S-19j Pro ASIC Miners, to increase its hash rate power and participation within the network.
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Delivery scheduled for 2021
The purchase of new equipment announced the company is scheduled to be delivered between the months of August and September 2021. The supplier will be the world's largest designer, manufacturer and supplier of ASIC mining equipment, Bitmain, which maintains its headquarters in Beijing, China.
Under the terms of Marathon Patent Group's purchase agreement with Bitmain, the company will receive a first batch of mining equipment of 6.000 units of Antminer S-19j Pro ASIC Miners in August 2021. The remainder of the mining equipment, 4.000 units, will be They will deliver during the month of September of that same year.
Greater power, greater energy consumption
For its part, the company's statement indicates that with the recent acquisition, Marathon Patent Group will be able to expand its hash rate power to about 3,56 EH/s on the Bitcoin network, once it receives all the equipment and it is installed. and put into operation. The amount of hash rate that this company will control for the third quarter of 2021 represents about 2,6% of the total hash rate of the Bitcoin network at the time of this publication, which according to data provider Blockchain.com is 136,86 PE/s.
Although it may seem like a small amount to many, the truth is that controlling 2,6% of Bitcoin's computing power is something truly surprising. This will position Marathon Patent Group as one of the most important mining companies in the ecosystem. Furthermore, this will help elevate the United States to a level of greater importance and leadership in its technological and economic fight against China.
On the other hand, the greater the computational power, the greater the energy consumption. In fact, the statement indicates that with this increase, Marathon Patent Group will consume virtually the maximum amount of power available at its proprietary data center located in the city of Hardin, Montana.
“As a result, the Company will consume approximately 100 MW of energy, the maximum amount available at the Company's data center in Hardin, MT.”
According to the company's announcement, the installation of the new equipment along with those already operational, which add up to a total of 33.560 ASIC miners will consume about 100 megawatts (MW) of energy, while the data center they operate has a maximum operating capacity of 105 MW, with the possibility of increasing it to 250 MW.
New data center with renewable energy
To increase its energy capacity, Marathon Patent Group is developing an alliance with Beowulf Energy, an American company that provides energy to customers throughout North America. The alliance will allow the mining company to open a new data center powered by renewable energy, with the facility providing approximately 100 MW of additional energy to Marathon Patent Group, which will then be expanded to reach 250 MW of power.
Merrick Okamoto, president and CEO of Marathon Patent Group, noted that the company is committed to caring for the environment, which is why the new facility will run on clean, renewable energy. In addition to being profitable, this also allows Marathon to reduce its carbon footprint, being more efficient with the planet.
Marathon Patent Group is one of the first cryptocurrency mining companies listed on Nasdaq, under the name MARA. At press time, MARA's share price on Nasdaq is $4,78 and it has a market capitalization of more than $251 million.
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