Bitcoin Miner Marathon Plans to Make Purchases to Offset Rewards ‘Halving’
- CEO estimates the Bitcoin break-even cost is around $43,000
- Marathon just bought a 200-megawatt data center in Texas
Power cables and ethernet cables connected to cryptocurrency mining rigs.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Marathon Digital Holdings Inc., one of the largest US Bitcoin mining companies, plans to acquire more power infrastructure and plug in new machines to keep costs low after a Bitcoin code update set to drastically reduce revenue for miners.
“We have the need for more capacity, we are reaching that limit now as we speak but we will continue to be acquisitive in this space,” Fred Thiel, Marathon’s chief executive, said Friday in an interview on Bloomberg Television. “That has a direct impact on our cost to mine, which lowers our break-even point.”