Quebec new mining facility is operational

Former patent management company now focuses on ASIC mining
13 March 2018   1493

Today, Marathon Patent Group, Inc. launched its brand new facility in Quebec, Canada. The facility is a fresh start for a company as it engages into Bitcoin mining game. Formerly, Marathon dealt with patents and commerce, it purchased and maintained intellectual properties of different organizations of all sizes from big corporations to universities and small startups.

Earlier, the company leased 2,5 sq km of space in Quebec specifically for establishing a data centre and cooperated with Bitmain on the matters of acquiring 1,400 units of Bitmain's Antminer S9 mining rigs. With this setup, 19Ph/s of ASIC mining capacity is expected to be carried out. Marathon is planning to add 2,800 more units to the facility. These machines are capable of mining both Bitcoin as well as other digital currencies like Bitcoin Cash, as the algorithm remains the same - SHA256. The company is clearly focused on mining cryptocurrencies with adding new crypto assets along the process and thus expanding its portfolio.

Judging by the stocks reaction - the stock (Nasdaq:MARA) is on the rise with 32% already gained, investors are pleased with the business shift. And it seems that traditional stock investors have found an elegant way to be exposed to the emerging market of digital assets.

Today’s announcement represents a milestone for the Company. I’d like to thank everyone that worked so hard to make this day a reality for our shareholders.

 

Merrick D. Okamoto

Interim Chief Executive Officer, Marathon

Giant Mining Solar Powered Farm to Created in California

Plouton Mining will allocate solar panels on 49 acres and it's planned they should generate about 10-13 megawatts per day, working for an average of 12 hours
26 June 2019   56

Plouton Mining, a subsidiary of Plouton Group Holding, intends to open the largest Bitcoin farm in North America for mining, whose operations will be provided by solar energy. To this end, the firm chose a territory in the western part of the Mojave Desert, California.

Plouton Mining will place solar panels on 49 acres: they should generate about 10-13 megawatts per day, working for an average of 12 hours. The company stressed that Western Mojave receives sunlight for 70% of the year.

The company will also sign the necessary contracts with local electricity suppliers in order to operate the farm in the absence of solar radiation.

Meanwhile, the bitcoin hashrate has again updated the historical maximum at 66.666 EX / s.