Marathon Digital Holdings, a crypto mining firm, has partnered with Zero Two, a digital assets infrastructure company, to develop a Bitcoin mining unit in Abu Dhabi, as stated by Cointelegraph.
According to Cointelegraph, Marathon Digital stated that the joint venture will be situated in Mina Zayed and Masdar City of United Arab Emirates, with a backing of 250-megawatt capacity. It’s believed that Marathon and Zero Two intend to use Abu Dhabi’s grid to fulfill electricity needs for the units.
Based on Cointelegraph’s information, Marathon Digital mentioned creating a “custom-built immersion solution,” to ensure cool down of the facilities’ mining rigs. “For this project, our 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 optimisation,” Fred Thiel, chair and CEO, Marathon Digital, said.
Moreover, Cointelegraph noted that the project’s control, known as Abu Dhabi Global Markets JV Entity, will be distributed among Zero Two and Marathon Digital. Reportedly, Zero Two will have 80% possession whereas Marathon Digital will have 20%. Sources suggest that both Abu Dhabi units will go live by 2024, creating a nearly seven EH/s worth combined hash rate.
(With insights from Cointelegraph)
