bitcoin mining company Marathon Digital Holdings has secured a deal that it says provides electricity to generate enough energy to contribute 23.3 exahashes per second (EH/s) to the Bitcoin network..
The July 18, Marathon announced that data center operator Applied Blockchain would house 254 megawatts of power, with the option to add 70 megawatts from other providers, including Compute North.. Marathon hopes that this hosting agreement will help it reach its goal of 23.3 EH/s in computing power by 2023.
Exahashes per second (EH/s) refers to the amount of hash power a miner contributes to securing the Bitcoin network.
$MARA Secures hosting capacity to support all 23.3 EH/s of #bitcoin mining
– 200 MW (9.2 EH/s) w/ @APLDBlockchain
– Additional 42 MW w/ @computenorthllc
– 12 MW (0.8 EH/s) w/ other providers https://t.co/fXgmN4ppTL
— Marathon Digital Holdings (@MarathonDH) July 18, 2022
MARA Ensures the hosting capacity to support the 23.3 EH/s of bitcoin mining.
– 200 MW (9.2 EH/s) with @APLDBlockchain
– 42 additional MW with @computenorthllc
– 12 MW (0.8 EH/s) with other providers https://t.co/fXgmN4ppTL
Applied Blockchain will supply 90 megawatts to the Marathon facility in Texas and between 110 and 180 megawatts to a facility in North Dakota. Combined, they will contribute about 9.2 EH/s.
Compute North has obtained the necessary regulatory approval to supply 42 megawatts of hosting capacity to Marathon at its Granbury, Texas facility. That location will host 26,000 mining devices contributing some 3.6 EH/s by the end of 2022, according to Marathon.
Marathon also stated that several unnamed providers would provide up to 12 megawatts of hosting capacity worth 0.8 EH/s, bringing the total new capacity to 324 megawatts.
Marathon CEO Fred Thiel stated in the announcement that deals should provide adequate hosting capacity to help your company deliver 23.3 EH/s in 2023. He expects hosting to start in August and continue through the following year.
“The first miners to be housed under these new agreements are scheduled to be installed in August, with further installations ramping up elsewhere in the fourth quarter of this year, and continuing into 2023.”
Regulatory compliance delays by Compute North may have contributed in part to Marathon’s disappointing 43.8% productivity drop in Q2. Hosting was expected to start in June, but the firm failed to obtain the necessary permits.
Marathon’s reduced productivity can also be attributed in part to its Hardin, Montana mining facility, which was closed following a severe storm on June 11.. That facility accounted for 75% of the company’s mining power and appears to still be down as the MARA mining pool has not mined any blocks since the storm.
The new energy deals come as Democratic US Senator Elizabeth Warren says miners are driving up energy costs for other consumers. She and a coalition of five other lawmakers asked the Environmental Protection Agency (EPA) and the Department of Energy (DOE) to share their findings on the energy consumption trends of bitcoin (BTC) miners last week.
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