Marathon Digital announces immersion crypto mining operations in Abu Dhabi


Crypto mining firm Marathon Digital Holdings announced it has partnered with digital assets infrastructure company Zero Two to create a large-scale immersion Bitcoin-mining facility in Abu Dhabi.

In a May 9 notice, Marathon Digital said the joint venture will be based in Mina Zayed and Masdar City in the United Arab Emirates, comprising two mining sites with a combined 250-megawatt capacity. According to the firm, Marathon and Zero Two plan to power the facilities with excess energy from Abu Dhabi’s grid, claiming it will increase its base load and sustainability.

How To Get Free Crypto  

Crypto mining in the desert climate of Abu Dhabi — where the average annual temperature is roughly 28 degrees Celsius (82 degree Fahrenheit) — was often “infeasible,” according to Marathon Digital. The firm said it had helped develop a “custom-built immersion solution” to cool mining rigs at the proposed facilities, suggesting a liquid-cooling solution.

“For this project, our team successfully co-developed and implemented a full immersion solution, as well as developed proprietary mining software from the ground up to provide flexibility, resilience, and optimization,” said Marathon Digital chair and CEO Fred Thiel.

Ownership of the project, called the Abu Dhabi Global Markets JV Entity, will be split between Zero Two and Marathon Digital, with the two companies controlling 80% and 20%, respectively. The two firms expect both Abu Dhabi facilities to be online by 2024 and produce a combined hash rate of roughly 7 EH/s.

Related: Dubai to Abu Dhabi: How NFTs are used in the UAE

The report of the planned mining operation came amid executives from United States-based crypto exchange Coinbase visiting the UAE to test the potential of the region as a “strategic hub” for its international operations. Coinbase CEO Brian Armstrong met with policymakers and spoke at the Dubai FinTech Summit.

Coinbase Banner  

Magazine: Crypto City: Guide to Dubai

Go to Source
Author: Turner Wright

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.