Cryptocurrency mining company Marathon Digital has recently announced that it is raising its 2024 target hash rate from 35-37 exahashes per second to 50 EH/s.
This increase in target is due to the company’s recent acquisitions, which have expanded its capacity.
According to Marathon’s CEO Fred Thiel, these acquisitions have given the company the opportunity to double its mining operations by 2024.
The new target will be fully funded, meaning the company does not need to raise additional capital.
These acquisitions include a 200 megawatt Bitcoin mining center purchased from Digital Applied in March and two mining sites, totaling 390 megawatts, acquired from Generate Capital in December 2020.
Currently, Marathon has a hash rate of 24.7 EH/s, with Core Scientific and Riot Platforms coming in at 16.9 EH/s and 12.4 EH/s respectively, according to Hashrate Index.
