Marathon introduces new mechanism to achieve 2023 hash rate target Bitcoin miner

Marathon Digital Holdings 

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Categories: Cryptocurrency

Marathon introduces new mechanism to achieve 2023 hash rate target

Bitcoin miner Marathon Digital Holdings has secured a deal that it says provides electricity to generate enough electricity to contribute 23.3 exhash per second (EH/s) to the bitcoin network. Marathon revealed in a July 18 announcement that data center operator Applied Blockchain will host 254 MW of electricity, with the option to add 70 MW from various other providers, including Compute North.

Marathon hopes this hosting deal will help it achieve its goal of 23.3 EH/s in computer power by 2023. Applied Blockchain will supply 90 MW to Marathon's Texas facility and 110 to 180 MW to the North Dakota facility. Combined, they would contribute about 9.2 EH/s. Compute North has obtained the necessary regulatory approval to supply 42 MW of hosting capacity to Marathon at its Granbury, Texas facility.

According to Marathon, that location will house 26,000 mining equipment that will contribute about 3.6 EH/s by the end of 2022. Marathon also said that various unnamed providers will provide up to 12 MW of hosting capacity of approximately 0.8 EH/s, bringing the total new capacity to 324 MW. Marathon CEO Fred Thiel said in the announcement that the deals should provide enough hosting capacity to help his company contribute 23.3 EH/s by 2023.

They expect hosting to start in August and continue through next year. The new power deals come as Democrat US Senator Elizabeth Warren claimed miners are raising energy costs for other consumers. She and a coalition of five other lawmakers asked the Environmental Protection Agency (EPA) and the Department of Energy (DOE) last week to share their findings on the energy consumption trends of bitcoin (BTC) miners.

Marathon Digital Holdings, the operator of bitcoin mining and energy services company, has announced a new mining system that it says will help it achieve its target of mining 2023 blocks per hour. The new system relies on a proprietary hashing algorithm that allows Marathon to mine small blocks while using less electricity.

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