MARA closes acquisition of 200 MW Texas Bitcoin mining data center
Marathon Digital Holdings closed its acquisition of a 200-megawatt Bitcoin mining data center in Garden City, Texas, from Applied Digital. The purchase materially increased the share of Marathon's mining capacity that it directly owned and operated.
On April 2, 2024, Marathon Digital Holdings closed its acquisition of a 200-megawatt Bitcoin mining data center in Garden City, Texas, from Applied Digital. The transaction completed a definitive agreement announced on March 15 and gave Marathon direct ownership of a site where it was already operating Bitcoin-mining equipment. The facility sat adjacent to a wind farm and had a nameplate capacity of 200 megawatts.
The acquisition was part of a broader change in Marathon's operating model. Before a series of data-center purchases beginning in late 2023, the company relied heavily on third-party hosting arrangements. With the Garden City transaction closed, Marathon said that, after planned expansion, its Bitcoin-mining portfolio would total about 1.1 gigawatts of capacity, with roughly 54% located at sites it directly owned and operated. Direct ownership gave the company greater control over power, site operations, expansion decisions and the cost structure of its mining fleet.
The Garden City site also gave Marathon room to add approximately 100 megawatts of additional mining capacity. Management said the transaction was expected to reduce its cost per coin at the site by about 20%. The deal therefore represented more than a routine purchase of mining equipment: it documented the continuing industrialization and vertical integration of large U.S. Bitcoin miners as they sought tighter control over energy infrastructure and operating margins ahead of the 2024 halving.