Marathon Digital has announced the purchase of additional Bitcoin mining hardware from Bitmain.
US-based mining giant Bitcoin (BTC) has signed a purchase agreement for 30,000 Antminer S19j Pro at a reported price of $ 120.7 million, according to a press release released on Monday.
The news marks a steady surge in Marathon’s bitcoin mining inventory, with Bitmain expected to complete delivery of the new rigs by June 2022.
With the 30,000 rigs in tow, Marathon’s total bitcoin miners will surpass 133,000, delivering an estimated hash rate of 13.3 exahashes per second (EH / s).
To put the number in perspective, data from BTC.com puts the three largest BTC mining pools between 13.16 EH / s and 18.67 EH / s.
At 13.3 EH / s per second, Marathon will effectively control over 12% of the current Bitcoin mining hash rate.
Fred Thiel, CEO of Marathon, alluded to the advantages of such a dominant presence in the global hash rate distribution and quoted him as saying:
“Increasing our share of the entire network’s hash rate increases our likelihood of earning Bitcoin, and given the uniquely favorable conditions in the current mining environment, we believe it is an opportune time to add new miners to our operations.”
Related: Four North American Bitcoin Miners Who Could Benefit From The East-West Shift
China’s crackdown on bitcoin mining has turned the global distribution of hash rates on its head, with North American participants expected to control a larger chunk of the industry. Even before Beijing’s measures against crypto mining, American and Canadian mining giants increased their capacities with new inventories from the two major Bitcoin manufacturers – Bitmain and MicroBT.
Migrating the hash rate from east to west can also serve to improve the carbon footprint associated with Bitcoin mining. Marathon is among a growing list of US miners reportedly committed to “green mining”.
Meanwhile, Chinese miners have reportedly started to settle in Kazakhstan, with the immediate effect of increasing the hash rate for bitcoin mining.