MARA Adds 152 MW in Ohio to Aim for 50 EH/s by 2024

Bitcoin mining giant MARA is set to expand its operational capacity by 152 MW through the acquisition of two facilities in Ohio and the construction of a third site.

On Monday, MARA announced the acquisition of two operational Bitcoin mining data centers in Hannibal and Hopedale, Ohio, totaling 122 MW, with an additional 100 MW approved for interconnection expansion.

Additionally, MARA said it is developing a 150 MW greenfield Bitcoin mining site in Findlay, Ohio, with 30 MW already operational. The three facilities have a combined interconnect-approval capacity of 372 MW, which MARA said it plans to fully energy by the end of 2025.

“We acquired these assets at a multiple of approximately $270,000 per megawatt, based on approved capacity and after customary adjustments,” MARA’s chief financial officer Salman Khan said in the release.

According to the release, the mining hardware for the expansion sites is “purchased, secured, and ready for deployment,” which, as MARA claimed, will accelerate its goal of reaching 50 EH/s in 2024. It remains unclear what mining hardware MARA will use for this expansion, but the company has invested in U.S. chip designer Auradine, which recently shipped its proprietary Teraflux Bitcoin miners.

MARA’s latest infrastructure expansion highlights the intensifying competition among top Bitcoin mining companies following the halving, which has also prompted some institutional participants to consider HPC and AI colocation for additional revenue.

MARA was the only public mining firm to reach a 30 EH/s realized hashrate in October. However, major competitors like CleanSpark have been trying to close the gap, with its realized hashrate nearing 30 EH/s.

MARA reported a hashrate capacity of 40.2 EH/s at the end of October. If the company has secured mining hardware with an average efficiency of 15 J/TH, the 152 MW of new operational capacity could energize another 10 EH/s of computing power.