1 year ago
On Thursday, Marathon Digital, a publically traded bitcoin mining company, announced its concern with Nodal Power, revealing plans to initiate an innovative 280-kilowatt (kW) bitcoin mining aviator task successful Utah. The task harnesses biogas, specifically methane from a landfill, to substance the pilot’s BTC mining operations, which are reported to beryllium afloat energized.
Eco-Friendly Bitcoin Mining
Marathon Digital, listed connected Nasdaq nether the ticker MARA, has announced a caller concern with Nodal Power. Nodal Power is recognized for processing and operating assets successful the renewable vigor sector, focusing chiefly connected biogas. The gas-to-bitcoin steadfast conscionable raised $13 million successful a effect circular backed by strategical investors.
Marathon detailed connected Thursday that the aviator task with Nodal Power is portion of a “broader initiative” by the firm. The institution wants to validate the benefits of capturing methane from landfills to powerfulness its fleet of bitcoin (BTC) mining rigs. The property announcement cites the United Nations Environment Programme (UNEP), which details that methane is 80 times much harmful than CO2.
Additionally, Marathon cited the U.S. Environmental Protection Agency (EPA), underscoring the agency’s perspectives connected issues related to municipal coagulated discarded emissions. The connection outlined that landfills contributed to implicit 14% of the U.S.’s full methane emissions successful 2021. Using biogas arsenic vigor to powerfulness bitcoin mining operations reduces emissions and mitigates the risks associated with methane.
“At Marathon, we are perpetually seeking innovative ways to diversify our operations, little our vigor costs, and leverage the unsocial aspects of Bitcoin mining to amended the environments successful which we operate,” Fred Thiel, Marathon’s president and CEO stated.
The concern with Nodal Power follows the quality that the steadfast is charting a people to garner up to $750 cardinal via assorted equity offerings, aiming to amplify its bitcoin holdings. The quality was reported by theminermag.com connected October 26 and it elaborate that the steadfast reported with the SEC laying retired its program for intermittent securities sales.
“This determination to embark connected different circular of stock dilution aligns with Marathon’s enlargement and ‘hodl’ strategy to fortify its presumption arsenic the largest nationalist mining steadfast with the astir important Bitcoin reserves among its peers,” theminermag.com writer reported.
On Thursday, MARA shares are up much than 5% against the U.S. dollar and 13.67% implicit the past 30 days. Year-to-date, MARA has risen much than 163% higher against the greenback. Six-month marketplace statistics, however, amusement MARA is down a hairsbreadth implicit 9% since the archetypal week of May 2023.
What bash you deliberation astir the concern betwixt Marathon and Nodal Power to trial a gas-to-bitcoin mining aviator successful Utah? Share your thoughts and opinions astir this taxable successful the comments conception below.
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