tl;dr
Marathon Digital has acquired a wind farm in Hansford County, Texas, with plans to use it as the foundation for a sustainable data center. The wind farm has 240MW of interconnection capacity and 114MW of nameplate wind capacity. Marathon aims to develop a behind-the-meter facility powered entirely b...
Marathon Digital, a Bitcoin miner, has acquired a wind farm in Hansford County, Texas, with an eye toward integrating renewable energy into its core business operations. The wind farm boasts 240 megawatts (MW) of interconnection capacity and 114 MW of nameplate wind capacity and will serve as the foundation for a sustainable data center. Marathon plans to develop a behind-the-meter facility powered entirely by the wind energy, effectively eliminating energy expenses for its operations.
This strategic acquisition aligns with Marathon's broader goal of converting underutilized renewable resources into economic value. By repurposing retired machines and utilizing 100% renewable, zero-marginal energy cost, the company aims to reduce energy costs, alleviate grid congestion, and advance broader renewable energy deployment.
Marathon intends to power its mining operations with next-generation ASIC mining hardware, all powered by wind energy. This initiative not only extends the economic life of the hardware but also reduces the environmental impact of mining operations. The company also plans to raise $700 million through a convertible senior notes offering to purchase Bitcoin and support general corporate activities.
Marathon's Chairman and CEO, Fred Thiel, stressed the long-term value and sustainability benefits of this acquisition, highlighting the company's commitment to environmental stewardship. The wind-powered data center is expected to mark a pivotal moment in Marathon's efforts to integrate renewable energy into its operations, with the transaction set to close by the first quarter of 2025.
Last month, Marathon's Bitcoin mining operations reported a record production, with BTC production rising 26% month-over-month to 907 BTC and the hash rate surging 15% to reach 46.1 EH/s, emphasizing the company's strong performance in the market.
Marathon's proactive stance in integrating renewable energy into its operations aligns with the broader trend of sustainability initiatives within the cryptocurrency industry, marking a significant step in advancing environmental responsibility while driving economic value.