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Marathon Digital anticipates to increase its hashrate by 2023.
Marathon Digital Holdings had targeted to reach a hashrate guidance of 23.3 exahash per second or EH/s. The Bitcoin miner had planned to achieve this target by 2023. While taking further actions to achieve their goals, Marathon Digital has signed multiple hosting contracts with different companies. These third party companies would help the bitcoin miner attain total power and capacity of up to 254 megawatts.
Last month, in a press release, Marathon Digital stated that they would expect their total capacity to reach up to 199,000 miners. These miners together would be producing a combined computing power of 23.3 EH/s and expected to start working by 2023. The Bitcoin mining company also expected to make its overall mining operations completely carbon free by the end of this year.
Although, for quite some time, things were not going as planned for the company. Several instances occurred including delays in Texas and continued maintenance issues at the Hardin, Montana-based mining facility of the company. These issues raised concerns about Marathon whether it would reach its specific guidance in a time frame planned.
On Monday, 18th July, statements from Chairman and CEO of Marathon Digital–Fred Theil– somewhat reduced concerns of delays. Theil said that the company is expected to successfully secure its targeted computing power of 23.3 EH/s. This now seems most likely hopeful as a result of new arrangements that the bitcoin miner has made to achieve its goal by early 2023.
Among several different deals, there are a couple of noteworthy deals to mention. One of the significant deals is signing an agreement of approx 200MW with Applied Blockchain–a prominent hosting company. As per the deal, Applied will supply 90 megawatts of hosting capacity to the Marathon’s facility in Texas while the other 110 megawatts will be supplied to the facility based in North Dakota.
Another evident deal that Marathon Digital made is with Compute North, which is already an existing partner of the bitcoin mining firm. As per the recent agreement, Granbury facility of bitcoin miner in Texas will receive hosting capacity of 42 megawatts from Compute North. Currently there are about 14,000 miners already installed at the facility that the company hopes to increase to at least 26,000 miners.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
