On December 3, The Nasdaq-listed cryptocurrency miner MARA officially announced the acquisition of a wind energy facility in Hansford County, Texas.
MARA’s new initiative will repurpose older mining hardware—specifically, application-specific integrated circuits (ASICs)—at the Texas facility.
These machines would typically be discarded or resold, but instead, they’ll help lower the company’s Bitcoin
$99,244.23
production costs while promoting sustainability.
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The wind farm has an operational capacity of 114 megawatts of wind power, with another 240 megawatts available for future connections to the grid.
The excess capacity, which is more than double the current installed power, could have gone to waste without MARA stepping in. Instead of linking the wind farm to the grid, MARA plans to use the energy directly to power their data centers.
Fred Thiel, MARA’s Chairman and CEO, explained:
We’re leveraging renewable resources that would have otherwise been curtailed, reducing our Bitcoin production costs through vertical integration, and demonstrating MARA’s commitment to environmental stewardship.
This acquisition marks the start of the company’s new Advanced ASIC Retirement Initiative, which aims to breathe new life into old mining hardware while focusing on sustainability.
As MARA continues to innovate in sustainable mining by investing in a wind farm, Kaiko has recently made waves by securing a leadership position in crypto indexing with a major acquisition. What did Kaiko plan regarding the acquisition? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
