Marathon Digital Holdings has announced a landmark acquisition of two operational Bitcoin mining sites for a staggering $179 million. This strategic pivot marks a significant shift for the company, transitioning from an asset-light approach to overseeing a diverse portfolio of mining activities.
The acquisition, involving sites in Kearney, Nebraska, and Granbury, Texas, purchased from Generate Capital, PBC, represents a major leap in Marathon’s operational capacity. The deal, valued at “$178.6 million, or $458,000 per megawatt (subject to certain adjustments),” will be funded through Marathon’s cash reserves, underlining the company’s financial robustness.
Post-acquisition, Marathon’s Bitcoin mining power will soar to approximately 910 megawatts, with direct control over 45% of this capacity. This strategic move favors Marathon for the forthcoming Bitcoin halving, promising lower production costs and heightened operational capacity.
Fred Thiel, CEO of Marathon, highlights the acquisition’s pivotal role in Marathon’s preparation for the Bitcoin halving. The company now envisions quadrupling its operational hash rate to about 50 exHashes within the next 18–24 months and exploiting energy hedging opportunities. Thiel asserts Marathon’s readiness to leverage its operational expertise in fully owning and operating sites within the U.S.
Salman Khan, Marathon’s CFO, sheds light on the financial prudence of this acquisition, pointing to a 30% reduction in operational costs at the acquired sites. This move is expected to yield immediate benefits for Marathon, showcasing the company’s ability to pursue advantageous deals without debt or equity issuance.
David Hirsch, Principal at Generate Capital, commends Marathon’s leadership in the Bitcoin ecosystem. This transaction fortifies Marathon’s strategic position and allows Generate Capital to reallocate resources toward sustainability projects.
Marathon Digital Holdings’ audacious acquisition of two Bitcoin mining locations for $179 million not only cements its position as a leader in the Bitcoin ecosystem but also exemplifies its commitment to innovation and sustainability. With a diversified portfolio and a clear growth trajectory, Marathon is poised to navigate the challenges and opportunities of the cryptocurrency mining landscape, especially in the wake of the upcoming Bitcoin halving.
As market sentiment shifts and fresh momentum builds across digital assets, June 2025 presents a…
When Bitcoin first emerged, its fixed 21 million supply was mocked. Today, that scarcity has…
Singapore’s financial authority announces that unlicensed crypto firms operating overseas after June 30 will be…
On May 27, 2025, US President’s crypto czar, David Sacks, says there is a pathway…
Hackers used Monero to move stolen Bitcoin, pushing XMR up 24 percent to $269. But…
Pakistan has allocated 2,000 megawatts (MW) of electricity to fuel Bitcoin mining and artificial intelligence…