Marathon Patent Group Purchases Additional 70,000 19 Series Miners from Bitmain

Marathon continues to grow its total hashrate to over 10.36 EH/s expanding total fleet to 103,000 next-gen Bitmain Antminers

Hong Kong, Dec. 28, 2020 – Bitmain – the world’s leading producer of cryptocurrency mining hardware today signed a new purchase contract with Marathon Patent Group, Inc. (“Marathon”), one of the largest Bitcoin self-mining companies in North America, for 70,000 Antminer S19 series ASIC miners.  The first batch of 7,000 S19 miners are planned to arrive in July 2021, and the rest will be shipped by December 2021.    

The $170 million new purchase will more than triple the size of Marathon’s existing fleet of 33,000 miners. After full delivery and deployment of the order, combined with the company’s prior miner purchase, Marathon is expected to remarkably increase its mining hash rate to 10.36 EH/s, with 103,000 Antminer S19 Series miners in total.  

“We are excited that Bitmain has won this record-breaking purchase contract from Marathon and has been part of its impressive growth this year. The new deal of 70,000 Antminer S19 Series with Marathon convincingly demonstrates our S19’s powerful role in bringing best-in-class mining efficiency to our customers. We are extremely pleased that Marathon continues to grow their mining presence, and our partnership continues to mutually benefit both of our companies.”  Said Irene Gao, Antminer Sales Director of North, Central, and South America (NCSA) at Bitmain.   

Marathon’s chairman and chief executive officer, Merrick Okamoto, stated, “This purchase is the largest order in dollar terms as well as the single largest order for Antminer S19 ASIC miners that Bitmain has ever received. We appreciate the hard work their team is putting in to fulfil this order as well as the 30,000 S19 miners we have purchased since August 2020. Our relationship with Bitmain is an important component of our potential for future success, and we look forward to continuing working with them to scale our business.”