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Marathon Digital Holdings CEO Fred Thiel predicts that the break-even point for Bitcoin mining will climb to about $43,000 following the upcoming halving event.\u00a0<\/p>\n
This significant increase from the current industry average of $23,000 underscores the potential impact on miners\u2019 profitability. Thiel shared these insights during a Bloomberg Television<\/a> interview, highlighting the challenges and adjustments miners will face.<\/p>\n Marathon Digital, a top U.S. Bitcoin mining company, is aggressively expanding its power infrastructure and deploying new equipment to mitigate the anticipated revenue drop from the halving. Thiel emphasized the company\u2019s immediate need for greater capacity as it approaches its current limits.<\/p>\n In line with its strategy to bolster operations, Marathon Digital recently announced the acquisition of a 200-megawatt data center in Garden City, Texas, for over $87 million. The purchase follows a significant investment earlier in the year, where Marathon secured multiple sites for $179 million. Through these acquisitions, Marathon has substantially increased its stake in its mining operations from about 3% to 53%.<\/p>\n As Bitcoin<\/a> reached its all-time high at $73,000 earlier this month, several Bitcoin mining<\/a> companies experienced a notable surge in their stock prices. Marathon Digital has particularly benefited from Bitcoin\u2019s recent rally, as the company\u2019s stock<\/a> price is currently at $19.22, over a 170% increase from last year.<\/p>\n The mining industry braces for the halving event, which is expected to significantly slash miners\u2019 earnings. Companies like Marathon are thus racing to scale up their operations, aiming for wider margins to offset the looming plunge in revenue.<\/p>\n