Marathon Digital Purchases Texas Wind Farm, Expands Renewable Energy Push
Bitcoin (BTC) miner Marathon Digital announced the acquisition of a wind farm in Hansford County, Texas, to further its sustainability efforts.
The wind farm, which boasts 240 MW of interconnection capacity and 114 MW of nameplate wind capacity, will form the foundation for a new, sustainable data centre.
Marathon also plans to develop and operate a behind-the-scenes facility powered solely by on-site wind energy, with no marginal energy costs, effectively eliminating energy costs for operations.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed by the first quarter of 2025. Once complete, it will be a pivotal moment in the company’s ongoing efforts to integrate renewable energy into its core business operations.
Focus on renewable energy
This acquisition is consistent with Marathon’s broader strategy to transform underutilized renewable resources into economic value. The company’s approach aims to significantly reduce energy costs, relieve grid congestion, and advance broader renewable energy deployment while contributing to a cleaner energy ecosystem.
Fred Thiel, Chairman and CEO of Marathon Digital, emphasized that this acquisition highlights how the energy and data center sectors can work together to create long-term value and foster sustainability initiatives.
He added:
“By repurposing machines and supplying energy at a 100% renewable marginal energy cost, we leverage renewable resources that would otherwise be curtailed, reduce the cost of Bitcoin production through vertical integration, and uphold Marathon’s commitment to environmental stewardship. It’s proven.”
The site will utilize next-generation ASIC mining hardware, some of which will have been written off or sold on the secondary market.
Through Marathon’s Advanced ASIC Retirement Initiative, the company will give these retired machines a second life powered by wind energy. The program promises to extend the economic life of hardware while reducing the environmental impact of mining operations.
Marathon Digital CFO Salman Khan highlighted the financial benefits of the project, noting that the plan will not only extend the life of mining equipment but also improve the company’s return on capital.
The Company’s Bitcoin Mining Operations registered a record Last month, BTC production was 907 BTC, a 26% increase from the previous month, and the hash rate surged 15%, reaching 46.1 EH/s.
Marathon also revealed plans to raise $700 million through a convertible senior note offering and use the proceeds to purchase Bitcoin and support general corporate activities.
