Marathon Digital buys a record amount of Bitmain miners to boost hash rate

Marathon Digital Holdings (NASDAQ:MARA) agrees with Bitmain to purchase a record number of Antminer S19 XP bitcoin miners. The company expects all newly bought miners to ship from Bitmain between July 2022 and December 2022. Its mining operations are now expected to consist of approximately 199K bitcoin (BTC-USD) miners producing ~23.3 EH/s, the company said. "This growth represents more than a 600% increase from our current hash rate and a 75% increase from our prior projection of 13.3 EH/s by the middle of 2022," said Marathon Digital CEO Fred Thiel. Meanwhile, shares of MARA jump more than 10% as (BTC-USD +3.9%) surpasses the key $50K level. Previously (Dec. 1) Marathon Digital expanded its miner deployment deal with Compute North.