Bitcoin (Bitcoin) miner Digital marathon has announced Purchase of a wind farm in Hansford County, Texas, to bolster its sustainability efforts.
The wind farm, which has 240 MW of connected capacity and 114 MW of wind capacity, will be the foundation of a new and sustainable data center.
In addition, Marathon plans to develop and operate a behind-the-meter facility powered entirely by on-site wind energy with zero marginal energy costs, effectively eliminating energy costs for its operations.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by the first quarter of 2025. Once finalized, it will be an important moment in the company's ongoing effort to integrate renewable energy into its core business operations.
Focus on renewable energy
The acquisition is in line with Marathon's broader strategy to convert underutilized renewable resources into economic value. The company's approach aims to significantly reduce energy costs, reduce grid congestion and advance the wider deployment of renewable energy while contributing to the clean energy ecosystem.
Fred ThielThe president and CEO of Marathon Digital emphasized that the acquisition demonstrates how the energy and data center sectors can work together to create long-term value and strengthen sustainability initiatives.
He added:
By reusing machines and powering them with 100% renewable energy and marginal energy cost, we use renewable resources that would otherwise be limited, reduce our Bitcoin production costs through vertical integration, and Marathon's commitment to monitoring We show the environment.
The site uses the next generation of ASIC mining hardware, some of which would otherwise be scrapped or sold on the secondary market.
Through the ASIC Marathon Advanced Retirement Scheme, the company is giving these retired machines a second life powered by wind energy that would otherwise be limited. The program promises to extend the economic life of hardware while reducing the environmental impact of mining operations.
Salman Khan, CFO of Marathon Digital, highlighted the financial benefits of the project, noting that the initiative not only extends the life of mining equipment, but also increases the company's return on investment.
Bitcoin mining operations of this company set a record Last month, Bitcoin production increased by 26% monthly to 907 Bitcoins and the hash rate increased by 15% to 46.1 EH/s.
In addition, Marathon disclosed a plan to raise $700 million through an offering of senior convertible notes, using the proceeds to purchase bitcoins and support the company's public activities.
