MARA - Why Marathon Digital And Applied Digital Stocks Are Up | Benzinga
Marathon Digital Holdings, Inc. (NASDAQ:MARA) and Applied Digital Corporation (NASDAQ:APLD) shares are trading higher Friday after the companies announced Marathon Digital has entered into a definitive purchase agreement to acquire Applied Digital's Bitcoin mining data center.
The Details:
Marathon Digital will purchase the bitcoin mining data center in Garden City, Texas, with a name plate capacity of 200 megawatts, for $87.3 million in cash. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2024.
“After taking over ownership and operational control of the data centers we recently acquired in Granbury, Texas and Kearney Nebraska, we are building on that momentum by now acquiring the Bitcoin mining data center in Garden City, Texas from Applied Digital,” said Fred Thiel, Marathon’s CEO.
“This transaction increases our influence over our current operations, reduces our cost per ...