Seeking Alpha
2021-12-01 16:59:12

Marathon Digital expands bitcoin miner deployment deal with Compute North; shares climb

Crypto miner Marathon Digital Holdings (NASDAQ:MARA) expands its agreement with Compute North to host more than 100K of MARA's previously purchased bitcoin (BTC-USD) miners at multiple locations. Shares of MARA rise about 11% so far intra-day as Bitcoin (BTC-USD) gets a boost. The majority of these locations are wind and solar farms operated by renewable energy providers in North America. Under the terms of the deal, Compute North will now be deploying Marathon's (MARA) bitcoin miners across the U.S., focusing on wind and solar farms, the company said. Once all 133K of MARA's miners are deployed, the company's hash rate will be approximately 13.3 EH/s, its blended cost of electricity and hosting will be $0.042 per kilowatt hour and its mining operations will be 77% carbon neutral. "We have secured access to top-tier, reliable hosting with renewable power, behind the meter, at industry low rates for the remainder of our previously purchased

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