Marathon Digital Holdings Expands Its Bitcoin Mining Empire

Marathon Digital Holdings, Inc. (NASDAQ: MARA), a leading player in the Bitcoin mining sector, has successfully completed the acquisition of a 200-megawatt Bitcoin mining data center in Garden City, Texas. This strategic move is part of Marathon’s broader initiative to bolster its operational capacity and reduce production costs. With the acquisition, the company gains an additional 100 megawatts of capacity for expansion, setting the stage for a significant increase in its mining capabilities, according to Mara.

Fred Thiel, Marathon’s chairman and CEO, highlighted the acquisition’s role in enhancing the company’s influence over operations and its potential to lower the cost per coin mined at the site. This development is expected to elevate Marathon’s total mining capacity to 1.1 gigawatts, with over half of this directly owned and operated across three continents. With current orders and options for machines representing an additional 45 exahash of capacity, Marathon is well on its way to achieving its ambitious growth targets of 35 to 37 exahash this year and 50 exahash the next.

Wes Cummins, CEO and chairman of Applied Digital, the previous owner of the Garden City data center, praised the state-of-the-art infrastructure of the facility and expressed confidence that the completion of this transaction positions both Marathon and Applied Digital to better pursue their long-term objectives.

This acquisition underscores Marathon’s commitment to securing and supporting the Bitcoin ecosystem by enhancing its mining operations. The company’s focus on sustainability is evident in its ongoing efforts to power its facilities with environmentally friendly energy sources. As Marathon continues to expand its mining operations, it sets a benchmark for the industry, demonstrating how large-scale Bitcoin mining can be conducted responsibly and efficiently.