US company Marathon Patent Group has purchased 3.304 ASICs for Bitcoin mining, in order to boost the network's hash rate in the United States.
La Bitcoin mining It is an activity that is concentrated mainly in China, which currently controls more than 65% of the hash rate of the network, although little by little new companies are emerging in search of decentralizing the concentration of the network's computing power that exists practically in a single region. In this sense, the technology company cryptocurrencies, and digital assets, Marathon Patent Group, decided to acquire a considerable amount of ASIC equipment for Bitcoin mining in North America, in countries such as the United States and Canada that also have favorable conditions for the establishment of cryptocurrency mining farms that function perfectly and generate large profits.
The company's goal is to establish one of the largest Bitcoin mining farms in the world, which will allow it to improve and optimize the efficiency of the Bitcoin network. To establish this mining farm, Marathon Patent Group is acquiring the facilities of FastBlock Mining, which has more than 3.700 m2 (40.000 sq ft) of construction; in addition, the company is acquiring a total of 3.304 ASIC devices. Similarly, in the letter of intent of Marathon Patent Group, the company stated that they will have an electricity rate of $0,0285 USD/KwH, which will allow them to significantly reduce the operating costs of the mining farm, going from a value of $7.400 USD to $3.600 USD per Bitcoin mined.
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Bitcoin Infrastructure and Hash Rate Expansion
Marathon Patent Group indicates that it already has a stock of 2.060 mining rigs, so with the acquisition of the new equipment, the company will have a total of 5.364 ASIC mining rigs available. With this acquisition, Marathon Patent Group will expand its Bitcoin hashing capacity, adding 208/Ph of capacity to the network and obtaining a total of 394/Ph.
The company also reports that, based on current Bitcoin prices, with the implementation of its miners it will be able to generate about 16 BTC per day with revenues in the order of $4 million per month, to obtain profits of more than $2 million, after the operating expenses of the mining farm.
Marathon Patent Group will also begin working with Fastblock's management team to begin expanding the company's current power capacity at its Atlanta, Georgia facility. It estimates that the company will be able to expand from 15 MwH to 45 MwH, with the potential to expand to a maximum of 100 MwH in the future should the facility require additional power.
Lastly, Merrick Okamoto, CEO of the company, states that the acquisition of the new equipment is a fundamental part of the development of the company's expansion and transformation plans.
“We are now well capitalized, we control our own future with our own facilities with extremely low energy costs, and we now have one of the most experienced Bitcoin mining teams to run our operations.”
The facility is expected to be operational by the end of September, consolidating the development of one of the most important mining companies in North America.
About Marathon Patent Group
Marathon Patent Group is an American digital asset technology company engaged in cryptocurrency mining and extraction. The company has a focus on developing technology-based ecosystems. blockchain and in generating income through cryptocurrency mining.
This company is one of the best positioned in the cryptocurrency and digital asset industry, especially Bitcoin, and has a market capitalization of more than $109 million. Marathon Patent Group is listed on the Nasdaq stock exchange under the code MARA.
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