MARA Holdings Inc. acquires a Texas wind energy farm to power bitcoin mining with renewable energy, reducing costs and boosting sustainability.
Bitcoin Miner MARA Invests in Wind Energy to Cut Costs and Reduce Environmental Impact
MARA Holdings Inc. (Nasdaq: MARA) has acquired a wind farm in Hansford County, Texas, to power its bitcoin mining operations with renewable energy. The facility provides 240 megawatts of interconnection capacity and 114 megawatts of nameplate wind capacity, increasing MARA’s total generating capacity to 136 megawatts.
Lower Costs and Sustainability Through Vertical Integration
MARA’s acquisition marks a shift from an asset-light to an asset-heavy business model. By integrating wind energy into its mining operations, the company aims to lower electricity costs, reduce carbon emissions, and extend the lifespan of its application-specific integrated circuit (ASIC) mining hardware.
According to MARA, the wind farm allows the company to repurpose older ASIC miners, minimizing electronic waste while maintaining operational efficiency. Wind energy offers a cost-effective, emissions-free power source, aligning with MARA’s strategy to improve energy efficiency and sustainability.
CEO Highlights Benefits of Renewable Mining
With this added renewable energy asset, MARA now owns and operates 136 megawatts of generating capacity, strengthening our position across the entire energy generation and bitcoin mining process, said Fred Thiel, MARA’s chairman and CEO.
This acquisition not only extends the economic life of our ASIC miners but also reduces operational costs, bringing us closer to achieving near net-zero operating costs.
Growing Trend of Wind-Powered Bitcoin Mining
Other mining firms have also turned to wind energy to power their operations. Cleanspark, Inc., based in Nevada, incorporates renewable energy sources, including wind, into its mining sites. Similarly, Iris Energy Ltd., operating in Canada and Texas, runs data centers powered exclusively by renewable energy.
MARA’s investment in wind energy highlights a growing industry trend toward sustainable mining solutions. As regulatory and environmental pressures increase, renewable energy sources like wind power could become a key factor in the long-term viability of bitcoin mining.
For more updates on renewable energy and cryptocurrency mining, follow MARA’s latest developments and industry trends.
