Crypto mining firm Marathon Digital Holdings announced that it has partnered with digital asset infrastructure company Zero Two to build a large-scale immersion bitcoin-mining facility in Abu Dhabi.
In a May 9 notice, Marathon Digital Said The joint venture will be located in the United Arab Emirates in Mina Zayed and Masdar City, comprising two mining sites with a combined 250 MW 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.
crypto mining in desert climate Abu Dhabi – where the average annual temperature is around 28 °C (82 °F) – was often “impossible”, according to Marathon Digital. The firm said it had helped develop a “custom-built immersion solution” for cooling mining rigs at the proposed facilities, suggesting a liquid-cooled solution.
Fred Thiel, President and CEO of Marathon Digital, said, “For this project, our team successfully co-developed and implemented a full immersion solution, as well as proprietary mining software to provide flexibility, resiliency and customization from the ground up. has developed.”
We are excited to share the details of our new #bitcoin Mining site in United Arab Emirates. Owned and operated in a joint venture with ZeroTwo, the initiative marks the first large-scale immersion bitcoin mining operation in the Middle East. learn more: https://t.co/vFROdM6urR
— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) May 9, 2023
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. Both firms expect both Abu Dhabi facilities to come online by 2024 and produce a combined hash rate of around 7 EH/s.
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