Marathon Digital Holdings, an Nasdaq-listed company that specializes in bitcoin mining, announced a new agreement with Compute North. Compute North will host over 100,000 miners in its data centers. It is an extension of an earlier agreement that provided Texas with 73,000 machines. This new partnership provides hosting facilities for all the machines to be powered using renewable energy.
Marathon Expands Mining Operations
Marathon is one of the most prominent bitcoin mining companies in America. It has now announced it will extend its previous agreement with Compute North, to host more than 100K people in various data centers throughout the United States. Compute North is a Tier 0 service provider and secured hosting for 73K bitcoin miners in several Compute North data centers. The partnership also includes the installation, operations, and deployments of Marathon’s existing and new mining facilities.
Marathon will soon be able to position its entire mining fleet with this partnership. The company bought 30K miners from Bitmain in August, and these miners will be delivered starting next month — after which Marathon will install them to begin producing bitcoin for the company.
You should be focusing on eco-mining
The agreement’s most crucial part is about the source of the electricity that will power the data center miners. Power will be mainly generated from renewable sources such as wind and solar farms. Marathon can increase its haveh power using the bought miners, with sustainability being the primary objective. The mining deployments will be done “behind the meter,” to avoid causing any troubles in the different grid connections near these data centers.
Marathon’s CEO Fred Thiel explained the following:
Not only will our mining operations be the largest in North America but they are also the most efficient, and environmentally-friendly. We have an easy path for expansion, as the primary energy supplier is the biggest generator of solar and wind energy in North America.
Marathon also announced that it will issue convertible senior notes worth $500 million to fund the purchase of more mining equipment.
How do you feel about Marathon’s new deal with Compute North? Leave your comments below.
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