UNITED STATES – Marathon Digital Holdings, a prominent company in the cryptocurrency mining industry, has announced plans to expand its operations with the acquisition of two Bitcoin mining sites. The sites, located in Granbury, Texas and Kearney, Nebraska, are poised to increase the company’s mining capacity by 56%. The deal is worth $178.6 million and is expected to be completed in the first quarter of 2024.
This strategic move will not only enhance Marathon’s mining capabilities but also increase operational control, with 45% of the company’s capacity expected to come under direct ownership upon completion of the purchase. This acquisition is a key part of Marathon’s vertical integration strategy and is a response to the recent increase in the value of Bitcoin.
Fred Thiel, CEO of Marathon Digital Holdings, is leading this expansion effort.
Investors and industry watchers are closely watching Marathon Digital as it navigates through the complexities of cryptocurrency mining and takes advantage of opportunities arising from market dynamics. With this latest development, Marathon is set to become an even more important player in the digital asset space.
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