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 reuse old mining hardware—specifically, application specific integrated circuits (ASICs)—at the Texas facility.
These machines are usually thrown away or resold, but instead, they will help lower the company’s Bitcoin
btc
$95,228.19
production costs while promoting sustainability.
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The wind farm has an operational capacity of 114 megawatts of wind energy, with another 240 megawatts available for future grid connections.
The excess capacity, which is more than double the current installed capacity, could have been wasted without MARA’s intervention. Instead of connecting the wind farm to the grid, MARA plans use energy directly to power your data centers.
Fred Thiel, President and CEO of MARA, explained:
We are harnessing renewable resources that would otherwise have been restricted, 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 ASIC Advanced Retirement Initiativewhich aims to breathe new life into old mining hardware while focusing on sustainability.
While MARA continues to innovate in sustainable mining by investing in a wind farm, Kaiko recently made waves by securing a leading position in cryptocurrency indexing with a major acquisition. What was Kaiko planning regarding the acquisition? Read the full story.
Having completed a master’s degree in Economics, Politics and Cultures of the East Asian region, Aaron has written scientific articles analyzing the differences between Western and collective forms of capitalism in the post-World War II era.
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