- Marathon Digital has announced the purchase of a data center in Texas.
- The 200 MW mining farm cost the firm $87 million.
- The company’s total bitcoin mining capacity has reached 1.1 GW.
Bitcoin miner Marathon Digital Holdings (MDH) has announced the acquisition of a 200MW data center in Texas, US. The facility was purchased from Applied Digital Corporation for $87 million. The transaction is expected to close in the second quarter of 2024.
The transaction is expected to close in the second quarter of 2024. Read the full press release
- Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) March 15, 2024
According to the press release, the agreement is Marathon Digital’s second major acquisition in the last four months. In January 2024, the company reported the purchase of two 390 MW data centers at once from Generate Capital.
Representatives of the bitcoin miner noted that the new deal increases the share of MDH’s own capacity to 54%. This increases the efficiency of mining the digital asset, the company said.
The total capacity of cryptocurrency mining facilities under the company’s management has reached the 1.1 GW mark, the firm’s representatives emphasized.
The press release notes that the data center is located in Garden City. It is located near a wind farm and actively uses renewable energy sources for its work. The facility is slated to be operational in 2023 and has a staff of 25 employees.
“Marathon Digital has been our partner since 2022, and we welcome them as the new managers of this data center. We look forward to finalizing the transaction, which we believe will allow both companies to better execute their long-term strategies,” Applied Digital CEO Wes Cummins said.
Meanwhile, the company’s shares under the ticker MARA on the NASDAQ stock exchange have slipped 12.5% over the past week. However, their price is up 94% over the past six months, with a year-to-date gain of 173.5%, according to TradingView.
The market capitalization of the bitcoin miner exceeds $5.1 billion.
Recall, we wrote that Marathon Digital reached a hash rate of 28.7 EH/s and increased reserves to 16,930 BTC.
