Marathon pays $13.5 million to gain operational control of 2 Bitcoin mining farms

Marathon Digital has agreed to pay Hut 8 $13.5 million for full operational control of its recently acquired Bitcoin mining farms in Granbury, Texas, and Kearney, Nebraska. Hut 8 will stop providing hosting services on these sites on April 30. The company's previous contract was worth $1.2 million per month and had more than four years left on the contract. Marathon plans to replace the mining company as the mining farm operator by April 30, while Hut 8 continues to provide hosting services and conduct self-mining activities. Marathon and Hut 8's subsidiaries agreed to terminate the contract on January 30 and hand over operational responsibilities to Marathon.