Summary:
MARA acquires a wind farm in Texas with 240 MW capacity.
Zero-marginal energy cost for powering data centers.
Part of the Advanced ASIC Retirement Initiative to extend miners' life.
Focus on sustainability and renewable energy integration.
Transaction expected to close by Q1 2025.
MARA Acquires Wind Farm to Power Data Center
MARA (NASDAQ: MARA), a leader in digital asset compute and sustainability, has announced its acquisition of a wind farm in Hansford County, Texas, boasting 240 MW of interconnection capacity and 114 MW of operational wind generation. This strategic move aims to sustainably power its data center and significantly reduce energy costs.
Key Features of the Acquisition
- The wind farm will allow MARA to operate a data center powered entirely by renewable energy at zero-marginal energy cost.
- This initiative is part of MARA's Advanced ASIC Retirement Initiative, which seeks to extend the economic life of mining hardware while utilizing renewable energy sources.
Benefits of the Wind Farm
According to Fred Thiel, MARA’s Chairman and CEO, this acquisition is a blueprint for collaboration between the energy and data sectors, creating long-term value while fostering sustainability initiatives. By leveraging renewable energy, MARA aims to:
- Alleviate grid congestion
- Reduce bitcoin production costs
- Enhance environmental stewardship
The wind farm will utilize last-generation ASIC mining hardware, preventing these machines from being discarded and instead allowing them to operate profitably using wind power. Salman Khan, MARA’s CFO, emphasized the program's potential to not only extend the life of the miners but also improve returns on capital while minimizing operating costs.
Looking Ahead
The acquisition is expected to close by the first quarter of 2025, pending regulatory approvals, and will contribute to MARA's growing fleet of renewably powered data centers. This step reinforces the company's commitment to sustainable practices and innovative energy solutions.
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