Marathon, one of the biggest Bitcoin mining firms in the United States, has revealed that it will broaden its previous contract with Compute North to implement over 100K miners in data hubs across the nation.
As part of the previous agreement, Compute North will accommodate 73K miners across several data network infrastructures that are already handled by Compute North. Miners are presently being stationed at existing facilities, with more to come.
West Texas’s next 280-megawatt (MW) power plant is due to commence operations in the first quarter of 2022, with construction and operation of the remaining mining areas due to be finished by the middle of 2022.
Relationship With Compute North
Marathon is a key strategic partner of Compute North, according to Dave Perrill, the company’s CEO, who stated that Marathon is continuing to set a new benchmark for eco-friendly cryptocurrency mining.
They portray Bitcoin mining done properly—professionally, sustainably, and in large quantities.
He believes that this increase demonstrates the synergies that exist between renewable energy and Bitcoin mining, and he is looking forward to growing this trend for Marathon as well as its other service users in the future.
Marathon expects to place all of its mining equipment shortly as a result of this partnership.
Earlier this year, the company purchased 30K Bitcoin miners from Bitmain, and these miners will be supplied starting next month, after which Marathon will configure them and they will start producing Bitcoin for the firm.
Emphasis on Eco-Mining
The agreement contains provisions that are perhaps the most significant in terms of the source of the electricity that will be used to power the miners in these data hubs.
The majority of the electricity will be generated by renewable sources such as wind and solar farms. Marathon will be able to increase its hash power as a result of the purchased miners, with the primary goal of ensuring long-term sustainability.
The mining deployments will take place behind the meter, to avoid causing any disruptions to the various grid connections that are located near these data center locations.
During a presentation, Marathon CEO Fred Thiel clarified that their mining activities would not only be among the biggest in North America, but they would also be among the most effective and ecologically friendly as well.
Furthermore, given the fact that the main energy supplier is one of the largest generators of renewable power in North America, they now have a clear route to continue our expansion efforts.
A second announcement was made by Marathon, stating that it intends to issue convertible high-ranking notes for $500 million in November, with the proceeds going toward the purchase of additional mining machines.