Marathon Digital to Take Over Operations of Two Bitcoin-Mining Sites
By Ben Glickman
Marathon Digital Holdings will take over as operator of two bitcoin-mining sites it recently acquired.
The Fort Lauderdale, Fla.-based bitcoin miner said Thursday that Hut8 Mining had continued operating the two sites, which are in Granbury, Texas, and Kearney, Neb., after the acquisition.
Marathon is looking to take over operations of the two sites by April 30.
Marathon's deal to acquire the two bitcoin-mining sites from Generate Capital closed Jan. 16.
The company said its agreement with Hut8 would allow it to reduce operating fees, giving it a lower cost to produce bitcoin.
Taking over operations would also allow the company to "more effectively participate in energy hedging and other energy management services" and allow it to implement proprietary technology, Marathon said.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
February 01, 2024 14:09 ET (19:09 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks