Bitcoin Miner Marathon Agrees to Deal That Cuts Electricity Costs by 38% With US Power Company

Bitcoin Miner Marathon Agrees to Deal That Cuts Electricity Costs by 38% With US Power Company


Nasdaq-listed Marathon Patent Group has agreed to a joint venture deal with U.S. independent power producer Beowulf Energy to deliver cheap electricity for its bitcoin mining operations in the country’s north.

In a statement on Tuesday, Marathon said that it will co-locate a bitcoin mining facility within Beowulf’s Big Horn Data Hub at its 105-megawatt power station in Hardin, Montana.

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The company will pay Beowulf – which builds and operate electric power plants – $0.028 per kilowatt-hour (kWh) for the supply of electricity at the facility. This is 38% below Marathon’s aggregate electricity cost for mining and data center management, currently at $0.034/kWh.

Marathon said reduced power costs will also lower its breakeven costs to mine one bitcoin from the existing $7,500 to $4,600.

Big Horn Data Hub also known as the Hardin Generating Station in Montana.

According to the statement, Marathon will install 11,500 S19 Pro Antminers it recently acquired

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