Bitcoin Daily: Marathon to Buy 78,000 Bitcoin Miners; GEM Deploys Over 13,000 Miners; Bitcoin Price up 65% Since Last Year

Marathon Digital is set to purchase 78,000 Antminer S19 XP bitcoin miners from Bitmain at a $879.1 million price tag, according to an SEC filing Tuesday (Dec. 28).

In a press release, the company said that 13,000 machines will be delivered every month from July through December 2022, based on current delivery schedules.

Marathon reportedly wants to have 199,000 operational miners making 23.3 exahashes (E/H) per second by the beginning of 2023. This represents a 600% boost from the current levels.

Related: Bitcoin Miner Griid Infrastructure Could Go Public via SPAC

Meanwhile, GEM Mining, an institutional-grade bitcoin mining company, has deployed 13,118 active miners with the goal of producing 6.5 bitcoin per day, according to a Wednesday (Dec. 29) press release.

That brings GEM’s hash rate capacity to 1.25 E/H, with most of the fleet made up of Bitmain S19 Pro miners.

In the release, CEO John Warren said this was a “major milestone” and that the company would “continue to seek out opportunities to deploy industry-leading technology with our premier hosting partners.”

Additionally, the price of bitcoin is up over 65% in the last year, with the cryptocurrency market also seeing better infrastructure in general as bitcoin is adopted more, FX Empire reported Wednesday (Dec. 29).

Data from CoinATMRadar, which tracks the number of cryptocurrency ATMs globally, said the amount of ATMs for bitcoin has also seen an almost 100% increase in the last year.