Marathon and Riot fight for supremacy in Bitcoin Mining

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Bitcoin mining equipment in line

Only recently, the Marathon Patent Group invested in 10,000 Antminer S-19s and was well on its way to becoming the leading Bitcoin mining company in North America. Competitor Riot Blockchain then also announced an investment in new mining hardware that would allow it to overtake Marathon. The battle for the Bitcoin mining crown remains exciting.

On October 26, 2020, Marathon announced the purchase of another 10,000 Antminer S-19 Pros. This is expected to achieve an operational hash rate of 2.56 exahashes per second (EH/s) by July 2021. This would be 1.9 percent of the current hashing performance of the entire Bitcoin network. Marathon is pursuing the goal of becoming the largest mining company in North America.

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Previously, the company had purchased 10,500 S19-Pro models in order to expand its existing inventory of 2,560 units. With the exception of 500 units, which will not arrive until November, all miners are scheduled for delivery in the first half of 2021.

Riot Blockchain announced the purchase of 2,500 S-19 Pro models, which are expected to be operational by December 2020. The company has purchased 18,640 S-19 Pros to date in 2020. Riot originally targeted a hash rate of 2.3 EH/s until July. However, following the announcement of Marathon, Riot decided earlier this month to launch a second transformation phase and invest in 2,500 additional S-19 Pros, which are expected to be ready for deployment in December 2020.

Race for the Bitcoin Mining crown remains exciting

Currently, Riot has a hash rate of 519 pentahashes per second (PH/s) and is ahead in the competition for the leading Bitcoin mining position. Marathon – with 300 PH/s less capacity – plans to overtake the competition by April 2021 at the latest.

Far away from the Bitcoin top, however, is the company Layer 1, which originally wanted to claim 30 percent of the global hash rate. A judge rejected the company’s motion to dismiss a patent infringement suit filed by the technology company Lancium. Lancium accused Layer of using its technology to adjust the power consumption in mining facilities, thereby violating patent law.

Michael McNamara, CEO of Lancium, who appreciates the judge’s swift dismissal, is confident of victory:

We look forward to the next stages of the case and ultimately the opportunity to present our case to the jury.