- Marathon has expanded its May agreement with Compute North to accommodate more miners in different regions of the U.S.
- The infrastructure provider will now host and manage over 100,000 of Marathon’s bitcoin miners.
- Upon full deployment, Marathon’s operations are expected to be 77% carbon neutral.
Publicly traded bitcoin miner Marathon Digital Holdings has expanded its hosting deal with infrastructure company Compute North to accommodate over 100,000 of its bitcoin mining rigs, the company said in a statement Wednesday.
The agreement, which initially sought to house roughly 73,000 of Marathon’s miners at a 300 megawatt (MW) data center in Texas, has now been expanded to include nearly 30,000 additional machines. Under the updated terms, Compute North will host Marathon’s previously purchased bitcoin mining rigs in data centers across the U.S., focusing on solar and wind farms.
Upon full deployment, Marathon’s operations are expected to be 77% carbon neutral, housing 133,000 machines with an output capacity of 13.3 exahashes per second (EH/s). The firm’s blended cost of electricity and hosting will be about $0.042 per kilowatt-hour (kWh), according to the statement.
“By expanding our agreement with Compute North, we have secured access to top-tier, reliable hosting with renewable power, behind the meter, at industry low rates for the remainder of our previously purchased miners,” Marathon’s CEO Fred Thiel said. “As a result, we believe our mining operations will not only be among the largest in North America, but also among the most efficient and most environmentally friendly.”
Compute North will handle the development and operation of the new mining facilities and the management and deployment of Marathon’s miners. By being primarily behind the meter, the infrastructure provider’s deployments will allow the machines to consume power on-site without passing through a meter, thereby avoiding congesting transmission lines and improving efficiency.
“Marathon is an important strategic partner of ours who continues to set the standard for environmentally friendly bitcoin mining,” Compute North CEO Dave Perrill said. “We believe this expansion proves the synergies that exist between renewable power and bitcoin mining, and we look forward to building on this momentum for Marathon and our other clients.”