Marathon Places an Order for New Mining Machines Worth $900 M

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Key takeaways:

  • Marathon, a Nasdaq-listed Bitcoin mining company, has placed an order for new Bitcoin mining machines worth $879 million. Marathon’s hash rate is predicted to climb to 23.3 EH/s by early 2023 as a result of this latest purchase.
  • Marathon Digital Holdings, a Nasdaq-listed Bitcoin mining business situated in Las Vegas, has placed an order for a new machine worth $ 879.06 million.
  • The deal was revealed just a few days ago. However, the figure was revealed on Tuesday. Marathon would get 78,000 Antminer S-19 XP mining machines in instalments during 2022, according to the statement.
Marathon Places An Order For New Mining Machines
Marathon Places an Order for New Mining Machines

Between July and December 2022, 13,000 units will be delivered monthly in six groups.

This is a 600% increase over our current hash rate and a 75% increase over our earlier claim of 13.3 EH/s by mid-2022.

Marathon Digital Holdings, based in the United States, is one of the world’s largest publicly traded Bitcoin mining businesses. Following China’s announcement of increasing pressures on Bitcoin miners earlier this year, the market share of US-based Bitcoin miners has risen dramatically. With over 35% hashrate, the United States now dominates the Bitcoin mining business.

With a hash rate of over 35%, the United States now leads the Bitcoin mining business.

This is due to the fact that these companies have placed a collective order for over 970,000 machines that will be delivered by the end of 2022.

The number of ETH in circulation climbed by around 3 million units from January to July, and by less than 1 million units from August until the present.

This suggests that the supply of ETH increased by 4.6 percent in 2020, but only by 3.5 percent in 2021.

The supply of ETH could expand by less than 2% in 2022 if this pace continues.

Indeed, given the current rate, the BTC supply is predicted to expand by roughly 1.7 percent in 2022, implying that ETH supply inflation would be comparable to that of BTC next year, if not somewhat greater.

BTC supply inflation will fall to 0.8 percent in 2024, owing to the fourth halving.

However, keep in mind that once Ethereum switches from Proof-of-Work to Proof-of-Stake, there will be no need to pay miners, therefore the premium for those who validate a block may be lowered. This would also reduce fresh ETH generation, bringing ETH money supply inflation far below 2%.

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Aadrika Sharma
Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

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