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U.S. Marathon Acquires 114-Megawatt Wind Farm to Expand Virtual CoinMining
! ## Environmental Mining Facilities
The major US cryptocurrency (virtual currency) mining company, MARA Holdings (Marathon), announced on the 18th that it has completed the acquisition of a wind power generation plant in Hansford County, Texas, adding a maximum generation capacity of 114 megawatts.
Marathon also emphasized its commitment to the environment. The acquired facility will utilize ASICMining machines that would otherwise be discarded or sold on the second-hand market.
He also said that the machines will be powered by 100% renewable energy in the form of wind power. It is an attempt to reduce the cost of producing Bitcoin (BTC) by producing its own electricity, while at the same time showing that it is willing to do business while protecting the environment.
With the acquisition of the power plant this time, Marathon's power generation capacity has reached 136 megawatts. One megawatt is roughly equivalent to the power of about 1,000 households.
Fred Thiel, chairman and CEO of Marathon, explained:
The acquisition will extend the economic life of the ASICMining machine. On top of that, it also promotes a reduction in operating costs, bringing costs closer to zero.
We are proud to be able to put this renewable energy asset (wind farm) back into operation and further strengthen our commitment to sustainability and long-term value creation.
Moreover, Texas is rich in inexpensive energy resources, including wind power generation, and has also adopted a favorable stance towards cryptocurrencies and blockchain, leading to various mining companies establishing their presence there.
Related: U.S. Senator Ted Cruz Says Texas Becomes a Bitcoin and Innovation Capital
Produced 750 BTC in January
On the 3rd, Marathon reported on Bitcoin production and business operations in January. In January, it mined 750 BTC. This represents a 13% decrease compared to 865 BTC in December.
Chairman and CEO Teal explained that it is mainly due to fluctuations in network difficulty and intermittent output restrictions.
Teal did not provide details on the 'output restriction.' However, during the summer and winter when there is a tight demand for electricity, Mining facilities may prioritize supplying electricity to the region, reducing power consumption, and the restriction may be related to this.
Additionally, by the end of 2024, more than 100,000 Mining machines were relocated and put into operation for the marathon, but in January, there was no additional operation of new Mining machines, and the active hash rate remained at the same level as in December.
What is the hash rate
The mining speed of Mining. The unit is "hash/s". "s" stands for "second" and represents "how many calculations can be done per second." It is used as an indicator to represent the processing capability of mining equipment and the speed at which cryptocurrency mining is conducted.
▶️ Cryptocurrency Glossary
Cryptocurrency Mining and Renewable Energy
On the 15th, the marathon once again pointed out that by using natural energy such as solar power generation and wind power generation to conduct virtual currency Mining, it also contributes to supporting such electricity.
Due to the nature of wind power, there is an unevenness in when it can generate power and when it is not, and if it is oversupplied, the price of electricity will be lower or power generation will be restricted. These issues may discourage investors from investing in renewables.
In this regard, the cryptocurrency mining business can provide a stable source of revenue for the renewable energy business and support it by consuming and paying for surplus electricity when it is generated.
As for mining using natural energy, there are cases where the Bhutanese government is using hydroelectric power generation.
Topics: Trends of Bitcoin Holding Companies and Countries