MARA Holdings, a publicly listed Bitcoin mining company on Wall
Street, has finalized its acquisition of a wind farm located in Hansford
County, Texas. The facility has an interconnection capacity of 240 megawatts
and a nameplate wind capacity of 114 megawatts.
MARA Repurposes ASIC Hardware with Wind Power
The acquired wind farm will be used to power mining
operations with the latest-generation ASIC hardware. These machines were
previously deemed surplus and would have either been written off or sold on the
secondary market.
By repurposing these devices, MARA aims to operate them
using 100% renewable energy sourced from the wind farm. This approach
eliminates the marginal energy costs typically associated with 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.
Lowering Bitcoin Costs with Renewable Energy
The move is positioned as a way for MARA to lower its
Bitcoin production costs through vertical integration, reducing reliance on
traditional energy sources. Additionally, the company intends to make use of
renewable energy that might have otherwise been curtailed.
$MARA closed their acquisition of a 240 MW Wind Farm in Texas where they will be 100% vertically integrated with renewable energy as the power source to produce “Made in USA” $BTC via MARA Pool 🇺🇸This is a step forward in their strategy to achieve near net-zero operating costs… pic.twitter.com/FLX69HqtW0
— Cryptoklepto (@CK_Cryptoklepto) February 18, 2025
This shift also
reflects MARA’s stated focus on environmental responsibility, although the
company has not specified how much it expects to save in energy costs or how
this initiative will impact overall mining efficiency.
Lending Bitcoin Holdings for Returns
MARA is lending a portion of its Bitcoin
holdings to third parties to generate returns and cover operational costs.
The lending program represents 16% of the company’s total Bitcoin, as reported
by Finance Magnates.
MARA has not disclosed borrower identities but stated the
program focuses on short-term agreements with established parties, yielding
under 10%. In December, the company saw a 2% decrease in Bitcoin production.
MARA has also followed MicroStrategy’s strategy by acquiring Bitcoin through a
$1 billion convertible note offering.
This article was written by Tareq Sikder at www.financemagnates.com.
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