The deal will total $879 million.
Bitcoin miner Marathon Digital Holdings signed an agreement to supply 78,000 mining machines from producer Bitmain. The equipment will cost the cryptominer $879.06 million.
As a result of the deal, the company’s hash rate is expected to increase to 23.3 exhash per second by early 2023. This is 7 times the current level, the company said.
Marathon Digital will acquire 78,000 units of the Antminer S-19 XP. This is the largest order in terms of hash rate (140 terahash per second) Bitmain has ever received for this model.
Mining equipment will be delivered in six lots of 13,000 monthly from July to December 2022.
By 2021, the number of Marathon bitcoins mined will reach 3,000 BTC, according to TheBlock calculations. This yield is several times higher than in 2020, when the company received 338 bitcoins.
NASDAQ Marathon Digital shares fell 3% premarket on the news.
Recall that recently another big bitcoin miner, Canaan, transported 2 thousand mining rigs to Kazakhstan.
Read also: bitcoin miners earn 3 times more in 2021 than in 2020, TheBlock calculates.