Marathon Digital Entered Into Definitive Purchase Agreement To Acquire Two Currently Operational Bitcoin Mining Sites, Totaling 390 Megawatts Of Capacity, From Subsidiaries Of Generate Capital, PBC For $178.6M,
Portfolio Pulse from Benzinga Newsdesk
Marathon Digital has signed a definitive purchase agreement to acquire two operational Bitcoin mining sites with a total capacity of 390 megawatts from Generate Capital's subsidiaries for $178.6 million. These will be the first fully owned sites for Marathon, offering expansion opportunities, operational efficiencies, and increasing its Bitcoin mining capacity by 56% to 910 megawatts.
December 19, 2023 | 1:05 pm
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Marathon Digital's acquisition of two Bitcoin mining sites for $178.6M from Generate Capital subsidiaries increases its mining capacity by 56% to 910MW, signaling growth and operational expansion.
The acquisition of the two Bitcoin mining sites is a significant expansion for Marathon Digital, directly impacting its operational capabilities and growth potential. This strategic move is likely to be viewed positively by investors, as it not only increases the company's mining capacity but also provides full ownership of the sites, which can lead to improved operational efficiencies. Given the scale of the acquisition and its impact on the company's portfolio, this news is expected to have a positive short-term impact on Marathon Digital's stock price.
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