Published on February 02, 2024 14:56 GMT+00:00edited on February 02, 2024 15:01 GMT+00:00

Marathon Digital has agreed to pay Hut 8 a termination fee of $13.5 million to take full operational control of its recently acquired bitcoin mining sites in Granbury, Texas and Kearney, Nebraska.

Marathon intends to replace the mining firm as the operator of the sites by April 30, with Hut 8 continuing to provide managed services and conduct self-mining activities in the meantime.

“We are very proud of the work we’ve done since taking over management at the Kearney and Granbury sites and want to recognize the incredible talent and dedication our teams on the ground have demonstrated for more than a year,” Hut 8 President Asher Genoot said in a statement today. “We anticipate an orderly transition of operations in the coming months and look forward to providing updates about our future …