Marathon Digital and Zero Two plan to launch two cryptocurrency mining platforms in Abu Dhabi this year at a total cost of $406 million
One of the largest U.S. miners, Marathon Digital, and developer Zero Two announced the creation of bitcoin mining platforms in Abu Dhabi (UAE). According to a press release, the Abu Dhabi Global Markets (ADGM) joint venture will begin building two mining centers under equipment with a total capacity of 250 MW.
Also Marathon Digital is one of the largest U.S. public companies. Which is engaged in cryptocurrency mining. It has tens of thousands of mining devices in Texas, North Dakota. And other states. according to BitcoinTreasuries, the company ranks second behind Microstrategy in terms of Bitcoin ownership. It owns 12,200 BTC ($335.5 million).
Also Abu Dhabi-based Zero Two develops Web3 infrastructure solutions and digital assets in the emirate.
The site for 200 MW of mining equipment will be located in the “eco-city” Masdar. Another 50 MW platform will be built in the port area of Mina Zayed. Electricity will be supplied to the complex from the general power grid of Abu Dhabi.
Marathon’s share in ADGM will be 20%, Zero Two’s share – 80%. Capital investment by the companies in proportion to their shares will be about $406 million. The digital assets extracted will also be distributed according to each company’s shares twice a month.
The companies have developed a special immersion solution for ASIC-mainer cooling (liquid cooling) to operate the equipment in the desert climate. And they implemented new software for performance optimization. The new solutions were successfully tested during the pilot project.
It is expected that the mining centers will be launched by the end of 2023, their total hashing speed. Also according to the companies’ calculations, will reach 7 EH/s. Our experts note that according to BTC.com, the total global Bitcoin network hash rate as of May 10 is about 337 EH/s.
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