Marathon Digital has started mining Bitcoin (BTC) using methane gas extracted from a landfill as a power source. The company has initiated a 280-kilowatt off-grid pilot project in Utah. Marathon partnered with Nodal Power, a company that generates energy from landfill gas in the southeastern United States and Texas, for this endeavor. Nodal Power had raised $13 million in a seed round in August to operate two sites, including a data center.
According to Marathon, this project is part of a broader initiative to capture methane emitted from landfills, convert it into electricity, and use that electricity to power Bitcoin miners. The CEO of Marathon, Fred Thiel, stated that if the pilot project proves successful, they are eager to expand their involvement in this area and assist landfill operators and others in meeting their environmental targets.
Bitcoin miners have been actively seeking new green energy solutions. In August, Genesis Digital Assets Limited established an 8-megawatt facility in Sweden that uses hydropower. This move towards renewable energy sources is aimed at reducing costs and minimizing the ecological impact of Bitcoin mining.
Marathon has been making significant strides in the field of sustainable crypto mining. In late October, the company inaugurated a 200-megawatt immersion-cooled facility in Abu Dhabi’s sustainable Masdar City. They also released a report that highlighted the practicality and advantages of crypto mining at landfills, both for miners and landfill owners, as well as for the environment. Methane, the primary gas emitted by landfills, is more harmful to the environment than carbon dioxide, according to the United Nations.
Despite mining a record-breaking 2,926 Bitcoins in the second quarter, Marathon reported earnings that fell short of expectations. However, their Q2 revenue increased by 228% compared to the previous year, reaching $132.8 million.
Overall, Marathon Digital’s new pilot project utilizing methane gas from landfills to power Bitcoin mining marks an important step in the industry’s ongoing efforts to embrace green energy solutions. By capturing methane emissions and converting them into electricity, Marathon aims to not only sustain its mining operations but also contribute to environmental goals. As the demand for sustainable crypto mining continues to grow, initiatives like this will play a crucial role in reducing the ecological impact of the industry.
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