One of the world’s largest bitcoin miners makes unexpected purchase in Texas — here’s what it’s planning #CriptoNews

One of the largest bitcoin miners in the world has acquired a wind farm in Texas, signaling a more sustainable future for the company and the industry.

Bloomberg reported that Mara Holdings, Inc., purchased a 114-megawatt wind farm in Hansford County for an undisclosed amount in December.

Chron.com added that the company plans to remove the plant from the Southwest Power Pool grid — which oversees the market for the Central U.S. — so that it can power mining operations. That way, the facility will only function when the wind is blowing and “eliminate the dependence on the grid,” per Mara CEO Fred Thiel, leaving it to run only 30% of the time.

“This acquisition serves as a blueprint for how the energy and data center sectors can collaborate to create long-term value while advancing sustainability initiatives,” Thiel said in a news release.

The site will also utilize last-generation mining hardware as part of Mara’s advanced ASIC retirement initiative.

Instead of sending electronic waste to landfills — where it would pollute the environment with harmful toxins and planet-warming gases as it degrades — or secondary markets, the company can repurpose the machines while leveraging its renewable energy produced by the wind farm.

“The program is expected to not only extend the life of the miners beyond their previous economic lives with zero-marginal energy cost, but also enhance MARA’s return on capital employed while reducing our operating costs and mitigating shareholder dilution,” CFO Salman Khan said in the statement.

Mara, which expects to finalize the sale in the first quarter of 2025, bought the facility from a joint venture between National Grid PLC and the Washington State Investment Board, per a filing with the U.S. Federal Energy Regulatory Commission.

The downside, of course, is that the power would otherwise be going to the grid, but the upside is that a bitcoin mining operation is recognizing the importance of controlling its own renewable power off the grid.

According to Visual Capitalist, the company, was formerly known as Marathon Digital Holdings and is headquartered in Fort Lauderdale, Florida, ranks second in corporate ownership of bitcoin with a projected value of $2.5 billion.

Mara’s move is a welcome addition for a company embroiled in a legal battle over a mining facility in Lone Star State. Residents living in Hood County accused cryptomining centers managed by what was then known as Marathon Digital of creating noise pollution that caused health issues, including severe vertigo and permanent hearing loss.

That facility runs on power from the grid, making it more directly responsible for a significant degree of pollution required to supply the energy.

Other bitcoin and cryptocurrency mines have been met with backlash for their energy-intensive processes that can destabilize grids and generate millions of tons of carbon dioxide.

Some companies are attempting to alleviate concerns about environmental impact by transitioning to energy-efficient mechanisms or investing in carbon credits.

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