Marathon Digital Holdings Secures Hosting Capacity To Support All 23.3 EH/s of Bitcoin Mining
18 Julho 2022 - 05:05PM
Marathon Digital Holdings, Inc.
(NASDAQ: MARA)
("Marathon" or "Company"), a leader in supporting and
securing the Bitcoin ecosystem, today announced that the Company
has secured approximately 254 megawatts of new hosting arrangements
for its Bitcoin mining operations, with an option to increase to
324 megawatts, from a variety of hosting providers. As a result,
Marathon believes it has now secured ample hosting arrangements to
support the Company’s previously stated goal of approximately 23.3
exahashes per second (“EH/s”) of computing power for Bitcoin
mining.
Applied Blockchain Hosting ArrangementsOn July
12, 2022, Marathon entered into an agreement with Applied
Blockchain (NASDAQ: APLD) to secure approximately 200 megawatts of
hosting capacity for the Company’s previously purchased miners,
upon terms and conditions consistent with its ordinary course
practices for Bitcoin hosting arrangements. As a result of this
arrangement, Applied Blockchain will supply Marathon with 90
megawatts of hosting capacity at its facility in Texas and at
least 110 megawatts of hosting capacity at its second facility in
North Dakota. Currently, Marathon expects to have approximately
66,000 miners, representing approximately 9.2 EH/s, hosted across
these facilities. As part of this agreement, Applied Blockchain has
also provided Marathon with the option to increase hosting
capabilities utilizing up to an additional 70 megawatts in North
Dakota, which would increase the total amount of hosting across all
of Applied Blockchain’s facilities to 270 megawatts if the option
is exercised.
Applied Blockchain’s facilities are currently under
construction. Based on construction schedules, installations of
Marathon’s miners are expected to begin at these facilities during
the fourth quarter of 2022 with all miners installed by
approximately mid-year 2023.
Compute North and Additional ExpansionsOn July
5, Marathon also expanded its hosting arrangements with Compute
North to include an additional 42 megawatts of hosting capacity at
Compute North’s facility near Granbury, Texas. Regulatory approvals
for this location, which are separate from the 280 megawatt wind
farm in West Texas, have been secured, and the energization
schedule is currently being driven by construction. With this
expansion, Marathon expects to have an additional 14,000 miners
installed at this facility, bringing the total number of miners
installed near Granbury to approximately 26,000 miners,
representing approximately 3.6 EH/s. Based on current construction
schedules, all 26,000 miners are expected to be installed at this
facility before the end of 2022.
In addition to the new agreement with Applied Blockchain and the
expansion with Compute North, Marathon also secured an additional
12 megawatts of hosting capacity with a variety of other providers.
Currently, Marathon expects to install approximately 4,000 miners,
representing approximately 0.8 EH/s, with these hosting providers,
starting in August 2022.
Management Commentary“With these new
arrangements, we believe we have now secured enough hosting
capacity to support our target of achieving approximately 23.3
exahashes per second of computing power for Bitcoin mining in
2023,” said Fred Thiel, Marathon’s chairman and CEO. “Each of these
facilities is already under construction, which is critical for
expediting installations. The first miners to be hosted under these
new arrangements are scheduled to be installed in August, with
installations ramping at other locations in the fourth quarter of
this year and continuing into 2023. We would like to thank each of
our hosting providers for working with us on these arrangements and
for helping us toward our intended goal of building Marathon into
one of the leading Bitcoin miners in North America.”
Investor Notice Investing in our
securities involves a high degree of risk. Before making an
investment decision, you should carefully consider the risks,
uncertainties and forward-looking statements described under "Risk
Factors" in Item 1A of our most recent Annual Report on Form 10-K
for the fiscal year ended December 31, 2021, filed with the
SEC on March 10, 2022 and Quarterly Report on Form 10-Q for the
fiscal quarter ended March 31, 2022, filed with the SEC on May 5,
2022. If any of these risks were to occur, our business, financial
condition or results of operations would likely suffer. In that
event, the value of our securities could decline, and you
could lose part or all of your investment. The risks and
uncertainties we describe are not the only ones facing us.
Additional risks not presently known to us or that we currently
deem immaterial may also impair our business operations. In
addition, our past financial performance may not be a reliable
indicator of future performance, and historical trends should not
be used to anticipate results in the future. There are factors out
of our control, such as force majeure events and unforeseen
economic and other challenges to our hosting partners, which may
delay or prevent realization of our stated goals. Future changes in
the network-wide mining difficulty rate or Bitcoin hash
rate may also materially affect the future performance of
Marathon's production of bitcoin. Additionally, all discussions of
financial metrics assume mining difficulty rates as of July 2022.
The total network’s hash rate data is calculated from a third-party
source, which is available here:
https://www.blockchain.com/charts/hash-rate. Data from third-party
sources has not been independently verified. See "Forward-Looking
Statements" below.
Forward-Looking Statements Statements made
in this press release include forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements can be identified by the use of words
such as “may,” “will,” “plan,” “should,” “expect,” “anticipate,”
“estimate,” “continue,” or comparable terminology. Such
forward-looking statements are inherently subject to certain risks,
trends and uncertainties, many of which the Company cannot predict
with accuracy and some of which the Company might not even
anticipate and involve factors that may cause actual results to
differ materially from those projected or suggested. Readers are
cautioned not to place undue reliance on these forward-looking
statements and are advised to consider the factors listed above
together with the additional factors under the heading “Risk
Factors” in the Company's Annual Reports on Form 10-K, as may be
supplemented or amended by the Company's Quarterly Reports on Form
10-Q. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or
otherwise. About Marathon Digital
Holdings Marathon is a digital asset technology
company that focuses on supporting and securing the Bitcoin
ecosystem. The Company is currently in the process of becoming one
of the largest and most sustainably powered Bitcoin mining
operations in North America, while remaining asset light.
Marathon Digital
Holdings Company Contact: Telephone:
800-804-1690Email: ir@marathondh.com
Marathon Digital (NASDAQ:MARA)
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