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Crypto mining company Marathon Digital Holdings has announced that it has partnered with digital asset infrastructure company Zero Two to create a large-scale immersive bitcoin mining facility in Abu Dhabi.
In a notice dated May 9, Marathon Digital explain The joint venture will be based in Mina Zayed and Masdar City in the United Arab Emirates and will include two mines with a combined capacity of 250 MW. According to the company, Marathon and Zero Two plan to power the facility with excess energy from the Abu Dhabi grid, which it claims will increase its baseload and sustainability.
cryptocurrency mining in desert climates According to Marathon Digital, Abu Dhabi’s annual average temperature is about 28 degrees Celsius (82 degrees Fahrenheit), which is usually “not feasible”. The company said it had helped develop a “custom immersion solution” to cool mining equipment at the proposed facility, suggesting a liquid cooling solution.
“For this project, our team successfully co-developed and implemented a complete immersive solution, with proprietary mining software developed from the ground up to provide flexibility, Elasticity and optimization.”
Titled the Abu Dhabi Global Market Joint Venture, ownership of the project will be split between Zero Two and Marathon Digital, which will control 80 percent and 20 percent, respectively. The companies expect both Abu Dhabi facilities to come online by 2024 and generate a combined hash rate of around 7 EH/s.
related: From Dubai to Abu Dhabi: How the UAE is using NFTs
Report of planned mining operations comes from executives of US cryptocurrency exchange Coinbase visit uae Test the region’s potential as a “strategic hub” for its international business. Coinbase CEO Brian Armstrong met with policymakers and spoke at the Dubai Fintech Summit.
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