Bitcoin (BTC) miner Marathon Digital has introduced the acquisition of a wind farm in Hansford County, Texas, to strengthen its sustainability efforts.

The wind farm will boast 240 megawatts (MW) of interconnect capability and 114 MW of nameplate wind capability and can function the inspiration for a brand new sustainable knowledge middle.

As well as, Marathon intends to develop and function an behind-the-meter facility powered solely by on-site wind power, with zero marginal power prices, successfully decreasing working power prices.

The transaction is topic to customary closing situations, together with regulatory approvals, and is anticipated to shut by the primary quarter of 2025. As soon as accomplished, it will likely be a pivotal second within the firm's continued efforts to combine renewable power into its core enterprise.

Deal with renewable power

This acquisition is in step with Marathon's broader technique to convert underutilized renewable sources into financial worth. The corporate's strategy goals to considerably scale back power prices, scale back grid congestion and drive broader renewable power deployment, whereas contributing to a clear power ecosystem.

Fred Thiel, Chairman and CEO of Marathon Digital, stated the acquisition will broaden how the power and knowledge middle divisions can work collectively to create long-term worth and tackle sustainability efforts. He emphasised that this may present how it may be promoted.

He added:

“By reusing machines and offering power that’s 100% renewable and with zero marginal power price, we’re leveraging renewable sources that might in any other case be lowered and decreasing Bitcoin manufacturing prices by way of vertical integration. , demonstrating Marathon’s dedication to environmental stewardship.”

The location will make the most of subsequent technology ASIC mining {hardware}, a few of which might in any other case be written off or bought on the secondary market.

Via Marathon's Superior ASIC Retirement Initiative, the corporate provides these retired machines a second life by harnessing wind power that might in any other case be curtailed. This system guarantees to increase the financial lifetime of {hardware} whereas decreasing the environmental impression of mining operations.

Salman Khan, CFO of Marathon Digital, highlighted the financial advantages of the undertaking, noting that the initiative won’t solely lengthen the lifetime of mining tools but in addition enhance the corporate's return on capital. .

The corporate's Bitcoin mining enterprise A document has been registered Final month, BTC manufacturing elevated by 26% month-on-month to 907 BTC, and hash charge elevated by 15% to 46.1 EH/s.

Moreover, Marathon has revealed plans to lift $700 million by way of a convertible debt providing, utilizing the proceeds to buy Bitcoin and help normal company operations.

talked about on this article