Marathon Digital announces immersion crypto mining operations in Abu Dhabi

Crypto mining steadfast Marathon Digital Holdings has announced it partnered with integer assets infrastructure institution Zero Two to make a large-scale immersion Bitcoin mining installation successful Abu Dhabi.

In a May 9 notice, Marathon Digital said the associated task volition beryllium based successful Mina Zayed and Masdar City successful the United Arab Emirates, comprising 2 mining sites with a combined 250-megawatt capacity. According to the firm, Marathon and Zero Two program to powerfulness the facilities with excess vigor from Abu Dhabi’s grid, claiming it volition summation its basal load and sustainability.

Crypto mining successful the godforsaken climate of Abu Dhabi, wherever the mean yearly somesthesia is astir 28 degrees Celsius, was often “infeasible” according to Marathon Digital. The steadfast said it had helped make a “custom-built immersion solution” to chill mining rigs astatine the projected facilities, suggesting a liquid cooling solution.

“For this project, our squad successfully co-developed and implemented a afloat immersion solution, arsenic good arsenic developed proprietary mining bundle from the crushed up to supply flexibility, resilience, and optimization,” said Marathon Digital seat and CEO Fred Thiel.

We are excited to stock details of our caller #Bitcoin mining sites successful the UAE. Owned and operated via a associated task with Zero Two, this inaugural marks the archetypal large-scale immersion Bitcoin mining operations successful the Middle East. Learn more: https://t.co/vFROdM6urR

Ownership of the project, called the Abu Dhabi Global Markets JV Entity, volition beryllium divided betwixt Zero Two and Marathon Digital, with the 2 companies controlling 80% and 20%, respectively. The 2 firms expect some Abu Dhabi facilities to beryllium online by 2024 and nutrient a combined hash complaint of astir 7 EH/s.

Related: Dubai to Abu Dhabi: How NFTs are utilized successful the UAE

The study of the planned mining cognition came amid executives from United States-based crypto speech Coinbase visiting the UAE to trial the imaginable of the portion arsenic a “strategic hub” for its planetary operations. Coinbase CEO Brian Armstrong met with policymakers and spoke astatine the Dubai FinTech Summit.

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