Marathon Digital Launches Paraguay Bitcoin Mining Project Powered by Hydro Energy

Bitcoin miner Marathon Digital has continued its worldwide enlargement by launching a 27-megawatt Bitcoin mining mission powered by renewable hydro vitality close to Paraguay’s Itaipu Dam.

In accordance with a press release, Marathon Digital launched the mission in partnership with Penguin Infrastructure Holding, which goals to rework vitality into human potential in Paraguay. The mission’s first miners are already on web site and are being ready for set up and energization.

Commenting on the brand new feat, Marathon’s chairman and CEO, Fred Thiel, stated: “After proving that we will efficiently deploy internationally with our mission in Abu Dhabi, we’re persevering with to develop into new markets with extra or stranded vitality. This mission is our second worldwide deployment and marks our first into Latin America.”

Marathon Digital Broadcasts Second Worldwide Deployment

Marathon and Penguin will run the mission in two phases, bringing 1.1 EH/s of Marathon’s miners on-line. The primary is predicted to conclude in November, with seven megawatts powering roughly 0.3 EH/s of Marathon’s miners. For the second section, 0.8 EH/s of Marathon’s miners shall be powered by 20 megawatts, and this stage shall be full in 2024.

“Bitcoin miners, like Marathon, have the distinctive capacity to co-locate at sources of energy which are producing extra vitality, just like the Itaipu Dam in Paraguay. We consider this mission might function a superb case examine for the worth Bitcoin mining can convey to areas with extra energy. We sit up for increasing our operations in Paraguay and elsewhere,” Thiel added.

Paraguay to Monetize Extra Vitality

Itaipu Dam is the second-largest hydroelectric dam on the planet by annual manufacturing, with an put in era capability of 14 gigawatts. Paraguay produces roughly 32 terawatt hours of surplus vitality per yr, which Marathon believes leads to decrease productiveness for the utility and the nation. The mission goals to assist Paraguay monetize its extra vitality with out the necessity for costly transmission strains and extra infrastructure.

Marathon’s second worldwide deployment comes shortly after the corporate launched a 280-kilowatt Bitcoin mining pilot mission powered by landfill methane fuel in Utah. The pilot was arrange through a partnership with Nodal Energy, a developer of renewable vitality property, and is at present energized and operational.