By Ben Glickman


Marathon Digital Holdings will take over as operator of two bitcoin-mining sites it recently acquired.

The Fort Lauderdale, Fla.-based bitcoin miner said Thursday that Hut8 Mining had continued operating the two sites, which are in Granbury, Texas, and Kearney, Neb., after the acquisition.

Marathon is looking to take over operations of the two sites by April 30.

Marathon's deal to acquire the two bitcoin-mining sites from Generate Capital closed Jan. 16.

The company said its agreement with Hut8 would allow it to reduce operating fees, giving it a lower cost to produce bitcoin.

Taking over operations would also allow the company to "more effectively participate in energy hedging and other energy management services" and allow it to implement proprietary technology, Marathon said.


Write to Ben Glickman at ben.glickman@wsj.com


(END) Dow Jones Newswires

02-01-24 1409ET