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Applied Digital Sells Bitcoin Mining Facility to Marathon Digital Holdings
Applied Digital recently announced the sale of its 200-megawatt Bitcoin mining facility located in Garden City, Texas, to Marathon Digital Holdings for $87.3 million. The acquisition agreement includes potential modifications that could increase the gross purchase price to $97.3 million.
Strategic Acquisition for Applied Digital
CEO Wes Cummins emphasized that this deal would provide Applied Digital with enhanced financial resources, setting a strong foundation for future growth and operational excellence. The company aims to focus on the development of high-performance computing (HPC) data centers as part of its long-term strategy.
Marathon Digital’s Expansion Plans
Marathon Digital Holdings, a Nasdaq-listed mining company, is actively preparing for Bitcoin’s upcoming halving event by acquiring additional mining sites. The company recently reported a self-mining hash rate of 28.7 exahashes per second and aims to reach 50 EH/s by the end of 2025.
Collaboration with Together AI
In a separate development, Applied Digital announced a partnership with Together AI to utilize Nvidia H100 graphics processing units (GPUs) for AI operations. This collaboration highlights the company’s commitment to enhancing its HPC capabilities and exploring generative AI technologies.
Marathon Digital’s Continued Growth
Marathon Digital Holdings has been actively expanding its mining capacity, with recent acquisitions in Nebraska and Texas totaling $179 million. The acquisition of Applied Digital’s Texas mining facility further cements Marathon’s position as a key player in the digital asset mining industry.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
