Marathon Digital Expands Internationally with Renewable Hydro Energy Bitcoin Mining Project in Paraguay
Marathon Digital has launched a 27-megawatt Bitcoin mining project powered by renewable hydro energy near Paraguay’s Itaipu Dam. The project, in partnership with Penguin Infrastructure Holding, aims to transform energy into human potential in Paraguay. The first miners are already on site and are being prepared for installation and energization.
Marathon Digital Announces Second International Deployment
The project will be run in two stages, bringing 1.1 EH/s of Marathon’s miners online. The first phase will conclude in November, with seven megawatts powering approximately 0.3 EH/s of Marathon’s miners. The second phase will see 0.8 EH/s of Marathon’s miners powered by 20 megawatts, and will be complete in 2024.
Paraguay to Monetize Excess Energy
The Itaipu Dam is the second-largest hydroelectric dam in the world by annual production, with an installed generation capacity of 14 gigawatts. Paraguay produces roughly 32 terawatt hours of surplus energy per year. Marathon believes this results in lower productivity for the utility and the country. The project aims to help Paraguay monetize its excess energy without the need for expensive transmission lines and additional infrastructure.
Marathon’s second international deployment comes after launching a 280-kilowatt Bitcoin mining pilot project powered by landfill methane gas in Utah via a partnership with Nodal Power, a developer of renewable energy assets, which is currently operational.
Hot Take: Marathon Digital’s Expansion Signals Positive Impact on Sustainable Crypto Mining
The move by Marathon Digital to expand internationally with renewable hydro energy projects signifies a positive shift towards sustainable cryptocurrency mining practices that utilize clean and excess energy sources worldwide. By tapping into renewable resources such as hydroelectric power and landfill methane gas, companies like Marathon are not only making significant advancements in their operations but also contributing to the monetization of surplus energy in regions like Paraguay while minimizing environmental impact.
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