News

Marathon Introduces Wide-Scale Bitcoin Mining Operation

A California-based company has recently unveiled its newest venture: the profitable Bitcoin mining business. Following this announcement the company has opened operational facilities in Quebec, an area considered to be very mining-friendly.
As said on a report from Nasdaq, on February 8, the company bought 1,400 Bitmain Antminer S9 miners and only a week later had publicized the leasing of 26,700 square feet of data center space in Canada.
In an announcement made yesterday, Marathon showed to the public that they have successfully completed the installation and have already begun the mining process.
In a statement from the company’s interim CEO and chairman of the board of directors, Merrick Okamoto, he said: “Today’s announcement represents a milestone for the company. I’d like to thank everyone that worked so hard to make this day a reality for our shareholders.”
As of the most recent reports, the company is using up approximately 2 MW of power and delivers approximately 19 Ph/s of ASIC mining capacity. This, however, is not the final step. The company is still looking into expanding its mining operation thrice by adding  another batch of 2,800 more mining devices, which will mean 3.9 MW of power.
The announcement almost immediately reflected on the stock prices of the company. The declining stocks of Marathon skyrocketed as the market opened on March 13, adding around 58% to its value in just a single day of trading.

Related posts
cryptocurrencyDOGEdogecoinDOGEUSDElon MuskNewsTron NewsTRXUSD

As Elon Musk’s SpaceX Literally Sends Dogecoin To The Moon, Justin Sun Craves For Tron to Tag Along

Justin Sun, the CEO of Tron is offering Elon Musk a million-dollar deal, to help launch a satellite for BitTorrent and Tron. The CEO of the leading network has been clamoring for the adoption of the Tron network and its…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTFacebookMark ZuckerbergNewsxbtusd

Facebook’s Mark Zuckerberg Might Have Just Made A Grand Entrance Into The Bitcoin Market

The CEO of Facebook might have just dropped subtle hints on his “Bitcoin holdings.” In a post that has left the cryptocurrency space confused, for the most part, Zuckerberg posted a picture of two of his goats, named Max and…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Software Giant Palantir Joins the Bitcoin Race, Hints At Gigantic BTC Buy

What do Tesla, Time magazine and WeWork have in common? All companies have, in the last three months, announced either a significant investment in cryptocurrency or a newfound acceptance of it as a means of payment from customers. The most…