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Marathon Digital Holdings Announce Partnered with digital asset infrastructure company Zero Two to build a large-scale immersive bitcoin mining facility in Abu Dhabi.
On May 9, Marathon Digital announced that it will establish a joint venture in the United Arab Emirates, specifically in Mina Zayed and Masdar City, with two mining farms with a combined capacity of 250 MW.
The larger facility with a capacity of 200MW will be built in Masdar City, Abu Dhabi’s sustainable development hub, while the smaller 50MW plant will be located in the Mina Zayed port area.
Marathon and Zero Two intend to use additional energy from the Abu Dhabi grid to power the facility to improve baseload and sustainability.
According to Marathon Digital, cryptocurrency mining is considered impractical in Abu Dhabi’s hot desert climate, where the average temperature is around 28°C (82°F). However, the company claims that it solved this problem by designing a custom immersion solution to cool the mining equipment in the proposed facility, hinting at liquid cooling technology.
Marathon Digital and Zero Two will jointly own the ADGM entity, with Zero Two controlling 80% and Marathon Digital controlling 20%. The two companies plan to launch two mining facilities in Abu Dhabi by 2024, generating a hash rate of around 7 EH/s.
Executives from US-based cryptocurrency exchange Coinbase have visited the UAE to test the region’s potential as a “strategic hub” for its international operations, coinciding with reports of planned mining operations. Coinbase CEO Brian Armstrong Meets Policymakers, Speaks at Dubai Fintech Summit
Also read: Marathon Digital Posts Set Record Production of 825 BTC in March 2023
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