Crypto mining industry consolidates, leading to increased investor bids for Marathon Digital Holdings, Cipher Mining, TerraWulf, and SOS Limited, while the S&P 500 index only gains 0.6%.

Marathon makes a nearly $180 million deal

Marathon has acquired two Bitcoin mining sites from Generate Capital for $178.6 million, bringing its total capacity to 390 megawatts. The deal is historic for Marathon, as it will become its first fully owned sites. The acquisition is expected to reduce the cost per coin of Bitcoin mining operations by 30%. CEO Fred Thiel emphasized the deal’s transformative potential, attracting investors who eagerly pounced on Marathon stock post-announcement.