MARA Holdings announces Texas wind farm acquisition in renewable energy initiative
Hannah Collymore | Source: Microsoft Start | Posted 02/20/2025
In line with its mission to sustainably mine Bitcoin and integrate renewable energy into its Bitcoin mining operations, Mara Holdings has acquired a wind farm in Hansford, Texas.
AI generated summary
MARA Holdings has announced the acquisition of a wind farm in Hansford, Texas, as part of its initiative to integrate renewable energy into its Bitcoin mining operations. This move aligns with the company's mission to sustainably mine Bitcoin, leveraging Texas's deregulated electricity market and abundant renewable resources. The newly acquired wind farm boasts 240 megawatts of interconnection capacity and 114 megawatts of nameplate wind capacity, allowing MARA to repurpose older ASIC mining hardware and operate at zero marginal cost using 100% renewable energy.
This acquisition marks a significant milestone in MARA's transition from an asset-light to an asset-heavy business model, as stated by CEO Fred Thiel. The company's sustainable approach reflects a growing trend in the cryptocurrency mining industry to address environmental concerns and energy consumption challenges. With several data centers powered by renewable energy across Texas, Ohio, and Finland, MARA Holdings aims to expand its capacity from 438 MW to 688 MW, further solidifying its commitment to sustainable mining practices.
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