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Marathon Patent Group Announces Additional Purchase of 660 Next Generation S19 Pro ASIC Miners
660 Miners Expected to Generate 73 PH/s (petahash) of Hashing Power, Company Estimates 280% Increase in Operating Hashrate to 129 PH/s when miners are
About this update from Mara Holdings, Inc.
[{"type":"text","content":"660 Miners Expected to Generate 73 PH/s (petahash) of Hashing Power, Company Estimates 280% Increase in Operating Hashrate to 129 PH/s when miners are received and deployed in July\n LAS VEGAS, May 12, 2020 (GLOBE NEWSWIRE) -- Marathon Patent Group, Inc. (NASDAQ:MARA) (\"Marathon\" or \"Company\"), one of the few Nasdaq listed cryptocurrency mining companies in the United States, today announced the purchase of an additional 660 latest generation Bitmain S19 Pro Miners. The 660 miners produce 110 TH/s and will generate 73 PH/s (petahash) of hashing power, bringing the company’s total Hashrate to 129 PH/s compared to companies S-9 production of 46 PH/s. The company paid $1,729,200 and the purchase was funded with cash on hand. The company expects to take delivery at our Hosting Facility by the end of July and will be deployed by our hosting partner Compute North upon their arrival. On May 11, 2020, Marathon announced its purchase of 700 M30S+ (80 TH) miners. The combined purchase is another step supporting the Company's recent strategic initiatives focused on expanding its bitcoin mining operations. Marathon anticipates that the 700 M30S+ miners will be deployed by June 1, 2020 and the S19 Pro’s in late July. When all 1,360 miners are fully deployed, Marathon estimates its aggregate operating hash rate will increase over 280% to approximately 129 petahash per second (\"PH/s\") The latest generation of bitcoin (\"BTC\") Application-Specific Integrated Circuit (\"ASIC\") miners from Bitmain are markedly more energy efficient than prior Bitmain models and other ASIC miners currently available. The May 11th purchase of 660 Bitmain S19 Pro Antminers boast a hash rate of 110 TH/s and an energy efficiency of 29.5±% 5 joules per terahash (J/TH). Investor Notice Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under \"Risk Factors\" in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended December 31, 2018. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe ar...