Explore our strategic evolution to a vertically integrated, cost-efficient bitcoin mining model as CEO Fred Thiel discusses our 20% operational cost reduction and enhanced scale.
Transcripts are autogenerated. May contain typos.
so if you think about the strategy that Marathon has followed for growth initially we started with acid light why it's all about speed we're relying on third parties to build out the infrastructure make that investment now that we've grown we're able to consolidate and acquire those sites for less than it would have cost us to build them originally so when you add the sum of the asset light strategy and our new vertically integrated strategy together you get a portfolio where we're essentially scaling faster than anybody
else in the industry and at the same time integrating and vertically integrating what's important here though with these Acquisitions including the Garden City acquisition it'll lower our cost of operations by about 20% almost so where we only owned and operated 3% of the sites that we're in we now own and operate 54% of the sites imagine this up to 20% cost reduction now applied to over 50% of our hash rate that's the benefit
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