Nasdaq-listed cryptocurrency mining firm Marathon Patent Group obtained and deployed two shipments of recent mining machines, which elevated the corporate’s hashrate by 130 petahash per second to 186 petahash per second.
- In response to an announcement Monday, the corporate obtained 700 WhatsMiner M31S+ Miners from MicroBT and 600 S19 Professional Antminers from Bitmain.
- 1,000 further S19 Professional Antminers are anticipated to reach between September and December this yr resulting in an anticipated further hashrate enhance of 153.four petahash per second.
- “We believe that the increased hashrate production will mean the company will become cash-flow positive on a go forward basis for the first time since we embarked on this pivot to become a bitcoin mining company,” mentioned CEO Merrick Okamoto.
- Marathon shares, which had been already down about 50% from their yearly excessive set earlier in August, are down 10% from their Monday open, buying and selling round $2.52 eventually examine.
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