Marathon Digital Takes Over Bitcoin Mines from Hut 8 for $13.5M

Marathon Digital Takes Over Bitcoin Mines from Hut 8 for $13.5M



Marathon Digital has successfully sealed a transaction with Hut 8, agreeing to assume operational leadership of Bitcoin mining facilities, accompanied by a termination payment of $13.5 million. This move to control the mining operations in Granbury, Texas, and Kearney, Nebraska, set to finalize by April 30, builds on Marathon’s January 16 purchase of these sites for $178.6 million. Hut 8 has been overseeing the sites under a contract from a previous merger, which cost about $1.2 million monthly.



This strategic shift is aimed at boosting Marathon’s efficiency and cost savings in Bitcoin mining at these locations. "Taking direct control of the Granbury and Kearney sites allows us to fully tap into the operational and financial advantages of these assets," remarked Fred Thiel, CEO of Marathon Digital, highlighting the potential for enh


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#Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #MarathonDigital, #Regulations

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