Publicly traded Bitcoin mining agency MARA (previously Marathon) accomplished its acquisition of a wind farm in Hansford County, Texas on Tuesday, including 240 megawatts of interconnection capability and 114 megawatts of operational wind technology to its capabilities.
The acquisition, which was first introduced in December, is a part of MARA’s goals to “convert underutilized sustainable resources into economic value.”
Beneath MARA’s Superior ASIC Retirement Initiative—an initiative to increase the power for Bitcoin mining {hardware} to function profitably past its typical lifecycle—the positioning will make the most of sources that in any other case would have been discarded or offered on the secondary market.
“With this added renewable energy asset, MARA now owns and operates 136 megawatts of generating capacity, strengthening our position across the entire energy generation and Bitcoin mining process,” stated MARA Chairman and CEO Fred Thiel, in an announcement. “This acquisition not only extends the economic life of our ASIC miners, but also drives reduction in operational costs, bringing us closer to achieving near net-zero operating costs”
Past extending the {hardware} lifecycle of older Bitcoin mining machines, the acquisition can be anticipated to “enhance MARA's return on capital employed while reducing our operating costs and mitigating shareholder dilution,” in accordance with the agency’s CFO Salman Khan.
The agency produced 750 Bitcoin by way of its mining operations in January, whereas upping its holdings to 45,659 Bitcoin. That’s greater than $4.3 billion at present costs, making it the second largest holder of the highest crypto asset amongst publicly traded firms.
Shares of MARA are buying and selling at $16.13 as of this writing, down 4.5% within the final 24 hours and 17.5% within the final month
Edited by Andrew Hayward