Bitcoin Miner Marathon Seeks Acquisitions to Offset Revenue Cut

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,” <-bsp-person state="{"_id":"0000018e-4318-d509-adee-4bd99b570000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">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.”

Marathon Digital Holdings is buying a bitcoin mining center in Garden City, Texas for about $87 million. Marathon CEO Fred Thiel says this will help lower costs and boost output. He speaks on “Bloomberg Markets.”

Source: Bloomberg

The company said ...