Crypto Mining Firm Marathon Digital Partners with Zero Two to Build Immersion Bitcoin-Mining Facility in Abu Dhabi
Crypto mining firm Marathon Digital Holdings has announced a partnership with digital assets infrastructure company Zero Two to create a large-scale immersion Bitcoin-mining facility in Abu Dhabi. The joint venture will be based in Mina Zayed and Masdar City in the United Arab Emirates, comprising two mining sites with a combined 250-megawatt capacity. Marathon and Zero Two plan to power the facilities with excess energy from Abu Dhabi’s grid, claiming it will increase its base load and sustainability. Ownership of the project, called the Abu Dhabi Global Markets JV Entity, will be split between Zero Two and Marathon Digital, with the two companies controlling 80% and 20%, respectively.
Immersion Solution to Cool Mining Rigs in Desert Climate
Crypto mining in the desert climate of Abu Dhabi, where the average annual temperature is roughly 28 degrees Celsius (82 degrees Fahrenheit), was often “infeasible,” according to Marathon Digital. The firm said it had helped develop a “custom-built immersion solution” to cool mining rigs at the proposed facilities, suggesting a liquid-cooling solution. Marathon Digital CEO Fred Thiel said that for this project, the team successfully co-developed and implemented a full immersion solution, as well as developed proprietary mining software from the ground up to provide flexibility, resilience, and optimization.
Expected Hash Rate and Timeline
Marathon Digital and Zero Two expect both Abu Dhabi facilities to be online by 2024 and produce a combined hash rate of roughly 7 EH/s. The report of the planned mining operation came amid executives from United States-based crypto exchange Coinbase visiting the UAE to test the potential of the region as a “strategic hub” for its international operations. Coinbase CEO Brian Armstrong met with policymakers and spoke at the Dubai FinTech Summit.
Summary
Crypto mining firm Marathon Digital has partnered with digital assets infrastructure company Zero Two to build a large-scale immersion Bitcoin-mining facility in Abu Dhabi. The joint venture will comprise two mining sites with a combined 250-megawatt capacity, powered by excess energy from Abu Dhabi’s grid. The facilities will use a custom-built immersion solution to cool mining rigs in the desert climate of Abu Dhabi. Marathon Digital and Zero Two expect both facilities to be online by 2024 and produce a combined hash rate of roughly 7 EH/s.
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