Bitcoin Miners Pivot to Southeast Asia After China Crackdown [Financial Post (Toronto, Ontario, Canada)]
Marathon Digital Holdings, Inc. (MARA)
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — The 17-acre cement slab in the middle of a Borneo industrial area once belonged to a logging company. Long ago that business abandoned the site to the elements, leaving just rudimentary structures and a four-story-tall concrete birdhouse made to lure swiftlets whose nests, built with saliva, fetch high prices in China. But in 2023, another industry moved in: Bitcoin miners. Sheltered by a vast, sheet-metal roof, over 1,000 machines now roar away, while hundreds more sit nearby in cardboard boxes waiting to be unpacked. Article content The site in Tanjung Manis, Sarawak, is the largest of four operations in the area run by miner Bityou. Owner Peter Lim chose the location after he was forced to shutter a larger 10,000 rig, 20-megawatt operation in China, following a ban on Bitcoin miners in 2021. “Most of the companies already left this industrial park,” said Lim. “We decid
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MARA
Earnings
- 5/9/24 - Beat
MARA
Sec Filings
- 6/20/24 - Form DEFA14A
- 6/14/24 - Form 4
- 6/7/24 - Form SC
- MARA's page on the SEC website