Marathon intends to use renewable energy to power 100,000+ miners.

Marathon Digital Holdings, a Nasdaq-listed bitcoin mining firm, has announced a new agreement with Compute North, a data center service provider, to host over 100,000 mining equipment in its data centers. The agreement expands on a previous agreement that guaranteed placement for 73,000 mining equipment in Texas. The new arrangement now assures hosting for all of these computers, which will be powered by renewables.

Marathon, one of the top bitcoin mining businesses in the United States, has announced that it would expand its previous arrangement with Compute North to host over 100,000 miners in data centers around the country. The previous deal provided hosting for 73,500 miners in numerous data centers maintained by Compute North, a Tier 0 data center service provider. Marathon’s existing and future mining facilities will also be installed, operated, and deployed as part of the cooperation.

Marathon will locate all of its mining machines in the near future as a result of this collaboration. In August, the firm purchased 30K miners from Bitmain, and these miners will be delivered beginning next month, following which Marathon will install them and begin producing bitcoin for the company.

The origin of the power that will fuel the miners in these data centers is perhaps the most important aspect of the arrangement. Renewable energy sources, such as solar and wind farms, will provide the majority of the power. Marathon will be able to increase its hash power with the bought miners, with sustainability as the primary aim. The mining deployments will take place “behind the meter” in order to avoid disrupting the various grid connections around these data centers.

Marathon CEO Fred Thiel explained:

Our mining operations will not only be among the largest in North America, but also among the most efficient and most environmentally friendly. Additionally, given that the primary energy provider is one of the largest generators of renewable energy from wind and solar in North America, we now have a clear path to continue expanding.

Marathon also stated in November that it planned to issue $500 million in convertible senior notes to fund the purchase of further mining machinery.

Patrick

Coincu News