Miner Marathon Digital to launch data centers in Abu Dhabi
The total capacity of cryptocurrency mining facilities will be 250 MW, and the hashrate will be 7 EH/s
10.05.2023 - 10:40
374
3 min
0
What’s new? Marathon Digital, a US miningcompany, has partnered with Zero Two, a blockchain infrastructure development firm, to build two cryptocurrency mining facilities in Abu Dhabi. According to the press release, the total capacity of the farms will be 250 MW and the hashrate will be 7 EH/s. The first 200 MW data center will be located in Masdar City. The second 50 MW site will be located in Mina Zayed, the port zone of the emirate. Both facilities should be up and running by the end of the year.
What else is known? Marathon and Zero Two intend to use surplus energy in Abu Dhabi to power the facilities, increasing the base load and sustainability of the city’s power system. The companies will compensate for any use of non-environmentally produced electricity.
It is expected that $406 million will be invested in the mining complex. Marathon and Zero Two have already ordered equipment and infrastructure for it. For the project, the companies have set up a new joint venture within the Abu Dhabi Global Markets JV Entity (ADGM) international financial center to manage the farms. Zero Two will own 80% of the company’s share capital, and Marathon will own 20%.
Marathon and Zero Two previously conducted a pilot program to test the effectiveness of building a complex in Abu Dhabi, as the emirate’s desert climate makes air-cooled mining impossible. To overcome these environmental challenges, the companies developed a special immersion cooling solution for ASIC miners and implemented their own software to optimize their performance.
UAE authorities will open a new free economic zone for crypto companies
Applications for registration will be accepted in the second quarter of 2023
The first results of the pilot demonstrated a significant reduction in the amount of maintenance required to efficiently produce hashrate by ASIC miners.
In January, Marathon sold 1500 BTC for the first time ever during its operation amid a 39% surge in the price of the asset. The proceeds were used to fund operating expenses.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$89 111
BTC
-2.26%
-
Ethereum
$3 093.85
ETH
-3.71%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Dogecoin
$0.374113
DOGE
-7.24%
-
Ripple
$0.815159
XRP
+14.45%
-
Cardano
$0.620364
ADA
+7.09%
-
Bitcoin Cash
$423.06
BCH
-4.47%
-
Polkadot
$4.94
DOT
-2.93%
-
Litecoin
$82.44
LTC
+0.73%
-
Stellar XLM
$0.132523
XLM
+4.4%