MARA (NASDAQ: MARA), a world agency targeted on bitcoin mining and leveraging digital asset compute to assist the power transformation, introduced getting into right into a definitive settlement to accumulate a wind farm that’s reportedly based mostly in Hansford County, Texas, with 240 MW of interconnection capability and 114 MW of nameplate wind capability.
This strategic acquisition represents a step ahead in bitcoin mining agency MARA’s targets to “convert underutilized sustainable sources” into financial worth, obtain “near-zero power price,” and allow broader renewable power deployment.
MARA will develop and function a behind-the-meter information middle “powered solely by the location’s 114 MW of wind capability at zero-marginal power price.”
By working an information middle at this website, MARA expects to take wind demand off the grid – “assuaging grid congestion, enabling renewable power growth, and constructing native energy demand.”
Fred Thiel, MARA’s Chairman and CEO stated that this acquisition serves as a blueprint for the way the “power and information middle sectors can collaborate to create long-term worth whereas advancing sustainability initiatives.” Thiel added that by repurposing machines and “energizing them with 100% renewable, zero-marginal power price, we’re leveraging renewable sources that may have in any other case been curtailed, lowering our bitcoin manufacturing prices by means of vertical integration, and demonstrating MARA’s dedication to environmental stewardship.”
The positioning will make the most of last-generation ASIC mining {hardware} that may have in any other case been “written off or bought into the secondary market.”
MARA’s strategy, known as the Superior ASIC Retirement Initiative, creates a extra sustainable and capital-efficient various to discarding retired machines, offering an avenue for the {hardware} to “proceed working profitably past their regular lifecycle, using wind energy that may in any other case have been curtailed.”
MARA’s Chief Monetary Officer, Salman Khan:
“This system is predicted to not solely lengthen the lifetime of the miners past their earlier financial lives with zero-marginal power price, but additionally improve MARA’s return on capital employed whereas lowering our working prices and mitigating shareholder dilution.”
The wind farm joins renewably powered information facilities owned and operated by MARA, and shall be anticipated serve a job in furthering the corporate’s dedication to sustainability.
The transaction is topic to customary closing situations, together with regulatory approvals, and is predicted to “shut by the primary quarter of 2025.”
