Marathon Digital to acquire 200MW bitcoin mining data center for $87.3M from Applied Digital

MARA Holdings, Inc.

Purchase price $87.3M in cash (~$437K/MW); expected close Q2 2024.
Site in Garden City, TX adjacent to wind farm, powered predominantly by renewable energy.
Will increase Marathon's directly owned/operated megawatts to 54% of 1.1 GW portfolio.
Expected to reduce cost per coin at the site by approximately 20%.
Adds 100 MW expansion capacity; 32 MW available at closing, rest subject to regulatory approvals.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 1.0

MARA Holdings, Inc. entered into definitive purchase agreement with Applied Digital Corporation valued at $87.3 million (effective 2024-03-15).

Action: entry
Agreement: asset purchase
Counterparty: Applied Digital Corporation
Value: $87.3 million
Effective: 2024-03-15

Exact text from the filing

has entered into a definitive purchase agreement to acquire Applied Digital Corporation’s ("Applied Digital") Bitcoin mining data center in Garden City, Texas, with a name plate capacity of 200 megawatts, for a purchase price of $87.3 million

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MARA Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-24-010217

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