MARA has announced a definitive agreement to acquire a wind farm in Hansford County, Texas, featuring 240 MW of interconnection capacity and 114 MW of nameplate wind capacity. The company plans to develop and operate a behind-the-meter data center powered entirely by the site’s wind capacity at zero-marginal energy cost. The facility will implement MARA’s Advanced ASIC Retirement Initiative, repurposing last-generation mining hardware that would otherwise be discarded. This acquisition aims to convert underutilized sustainable resources into economic value while reducing bitcoin production costs through vertical integration. The transaction is expected to close by Q1 2025.
MARA ha annunciato un accordo definitivo per acquisire un parco eolico nella contea di Hansford, Texas, con una capacità di interconnessione di 240 MW e una capacità nominale di energia eolica di 114 MW. L’azienda prevede di sviluppare e gestire un data center dietro il contatore, alimentato interamente dalla capacità eolica del sito a costo energetico zero. La struttura attuerà l’Iniziativa Avanzata di Pensionamento ASIC di MARA, riutilizzando hardware di mining di ultima generazione che altrimenti verrebbe scartato. Questa acquisizione mira a convertire risorse sostenibili poco sfruttate in valore economico, riducendo al contempo i costi di produzione di bitcoin attraverso l’integrazione verticale. La transazione dovrebbe concludersi entro il primo trimestre del 2025.
MARA ha anunciado un acuerdo definitivo para adquirir un parque eólico en el condado de Hansford, Texas, con una capacidad de interconexión de 240 MW y una capacidad nominal de energía eólica de 114 MW. La empresa planea desarrollar y operar un centro de datos detrás del medidor, alimentado completamente por la capacidad eólica del sitio a costo energético cero. La instalación implementará la Iniciativa Avanzada de Jubilación ASIC de MARA, reutilizando hardware de minería de última generación que de otro modo sería desechado. Esta adquisición tiene como objetivo convertir recursos sostenibles infrautilizados en valor económico, al tiempo que reduce los costos de producción de bitcoin a través de la integración vertical. Se espera que la transacción se cierre para el primer trimestre de 2025.
MARA는 텍사스 한스포드 카운티에 있는 풍력 발전소를 인수하기 위한 확정 계약을 발표했습니다. 이 발전소는 240 MW의 인터커넥션 용량과 114 MW의 이름 붙여진 풍력 용량을 보유하고 있습니다. 회사는 사이트의 풍력 용량으로 전적으로 운영되는 미터 뒤 데이터 센터를 개발하고 운영할 계획이며, 에너지 비용은 제로입니다. 해당 시설은 MARA의 고급 ASIC 퇴출 이니셔티브를 구현하여, 그렇지 않으면 폐기될 최신 세대의 광산 하드웨어를 재활용합니다. 이 인수의 목표는 활용이 저조한 지속 가능한 자원을 경제적 가치로 전환하고, 수직 통합을 통해 비트코인 생산 비용을 줄이는 것입니다. 이번 거래는 2025년 1분기까지 완료될 것으로 예상됩니다.
MARA a annoncé un accord définitif pour acquérir un parc éolien dans le comté de Hansford, au Texas, disposant d’une capacité d’interconnexion de 240 MW et d’une capacité éolienne nominale de 114 MW. La société prévoit de développer et d’exploiter un centre de données derrière le compteur, alimenté entièrement par la capacité éolienne du site à coût énergétique zéro. L’installation mettra en œuvre l’Initiative avancée de retrait des ASIC de MARA, réutilisant le matériel de mining de dernière génération qui serait autrement jeté. Cette acquisition vise à convertir des ressources durables sous-utilisées en valeur économique, tout en réduisant les coûts de production de bitcoin grâce à l’intégration verticale. La transaction devrait être finalisée d’ici le premier trimestre 2025.
MARA hat eine endgültige Vereinbarung zur Übernahme eines Windparks im Hansford County, Texas, bekannt gegeben, der über eine Interkonnektionskapazität von 240 MW und eine Nennleistung von 114 MW verfügt. Das Unternehmen plant die Entwicklung und den Betrieb eines hinter dem Zähler liegenden Rechenzentrums, das vollständig durch die Windkapazität des Standorts mit null Grenzkosten für Energie betrieben werden soll. Die Einrichtung wird MARAs Fortgeschrittene ASIC-Ruhestandsinitiative umsetzen, indem sie letzte Generationen von Mining-Hardware wiederverwendet, die sonst entsorgt werden müsste. Diese Übernahme zielt darauf ab, unterutilisierte nachhaltige Ressourcen in wirtschaftlichen Wert umzuwandeln und gleichzeitig die Produktionskosten für Bitcoin durch vertikale Integration zu senken. Der Abschluss der Transaktion wird bis zum ersten Quartal 2025 erwartet.
Positive
Zero-marginal energy cost through wind power utilization
Vertical integration reducing bitcoin production costs
240 MW interconnection capacity with 114 MW operational wind generation
Extension of mining hardware economic lifecycle
Reduction in operating costs through renewable energy integration
Negative
Transaction subject to regulatory approvals
Capital investment required for wind farm acquisition
Reliance on last-generation ASIC mining hardware
Insights
This wind farm acquisition marks a strategic shift in MARA’s operational model, combining renewable energy assets with bitcoin mining infrastructure. The 240 MW interconnection capacity and 114 MW of operational wind generation creates a significant vertical integration opportunity. The zero-marginal energy cost structure will substantially reduce operational expenses, potentially improving profit margins in bitcoin mining operations.
The behind-the-meter setup eliminates grid transmission costs and reduces exposure to volatile energy market prices. This innovative approach of repurposing last-generation ASICs with free wind energy could create a new economic model for extending mining equipment lifecycles. The project also provides grid benefits by absorbing excess wind generation that would otherwise be curtailed, potentially creating additional revenue streams through grid services.
The Advanced ASIC Retirement Initiative represents an innovative solution to a critical industry problem. By repurposing older mining equipment with zero-cost renewable energy, MARA could potentially transform depreciated assets into profitable operations. This approach addresses two key challenges: extending ASIC lifecycle beyond traditional retirement age and reducing operating costs through renewable energy integration.
The strategy could significantly improve capital efficiency by maximizing returns from existing hardware investments while minimizing new equipment purchases. This model could become particularly valuable during market downturns when newer equipment purchases might be less economical. The zero-marginal energy cost structure could maintain profitability even during periods of lower bitcoin prices.
12/03/2024 – 08:30 AM
Site features 240 MW of interconnection capacity, with 114 MW of operational wind generation to sustainably power data centerSite will be the first application of MARA’s Advanced ASIC Retirement Initiative, designed to extend the economic lives of miners
Fort Lauderdale, FL, Dec. 03, 2024 (GLOBE NEWSWIRE) — MARA (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced entering into a definitive agreement to acquire a wind farm in Hansford County, Texas, with 240 MW of interconnection capacity and 114 MW of nameplate wind capacity. This acquisition represents a major step forward in MARA’s objectives to convert underutilized sustainable resources into economic value, achieve near-zero energy cost, and enable broader renewable energy deployment.
MARA will develop and operate a behind-the-meter data center powered entirely by the site’s 114 MW of wind capacity at zero-marginal energy cost. By operating a data center at this site, MARA expects to take wind demand off the grid – alleviating grid congestion, enabling renewable energy development, and building local power demand.
“This acquisition serves as a blueprint for how the energy and data center sectors can collaborate to create long-term value while advancing sustainability initiatives,” said Fred Thiel, MARA’s Chairman and CEO. “By repurposing machines and energizing them with 100% renewable, zero-marginal energy cost, we’re leveraging renewable resources that would have otherwise been curtailed, reducing our bitcoin production costs through vertical integration, and demonstrating MARA’s commitment to environmental stewardship.”
The site will utilize last-generation ASIC mining hardware that would have otherwise been written off or sold into the secondary market. MARA’s approach, called the Advanced ASIC Retirement Initiative, creates a more sustainable and capital-efficient alternative to discarding retired machines, providing an avenue for the hardware to continue operating profitably beyond their normal lifecycle, utilizing wind power that would otherwise have been curtailed.
“The program is expected to not only extend the life of the miners beyond their previous economic lives with zero-marginal energy cost, but also enhance MARA’s return on capital employed while reducing our operating costs and mitigating shareholder dilution,” said MARA’s Chief Financial Officer, Salman Khan.
The wind farm joins a growing global fleet of renewably powered data centers owned and operated by MARA, and will play an integral role in furthering the Company’s commitment to sustainability. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by the first quarter of 2025.
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About MARA
MARA (NASDAQ: MARA) is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value.
For more information, visit www.mara.com, or follow us on:
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MARA Company Contact:
Telephone: 800-804-1690
Email: ir@mara.com
MARA Media Contact:
Email: marathon@wachsman.com
FAQ
What is the capacity of MARA’s newly acquired wind farm in Texas?
The wind farm has 240 MW of interconnection capacity and 114 MW of nameplate wind capacity.
When is MARA’s wind farm acquisition expected to close?
The transaction is expected to close by the first quarter of 2025.
What is MARA’s Advanced ASIC Retirement Initiative?
It’s a program to extend the economic life of last-generation mining hardware by powering it with zero-marginal cost wind energy instead of disposing or selling it.
How will MARA power its new Texas data center?
The data center will be powered entirely by the site’s 114 MW of wind capacity at zero-marginal energy cost.
