Marathon Digital Holdings and Zero Two To Develop and Operate the First Large-Scale Immersion Bitcoin Mining Facilities in Abu Dhabi
Retrieved on:
Tuesday, May 9, 2023
The newly formed Abu Dhabi Global Markets JV Entity (the “ADGM Entity”) will initially develop and operate two digital asset mining sites with a combined capacity of 250 megawatts.
Key Points:
- The newly formed Abu Dhabi Global Markets JV Entity (the “ADGM Entity”) will initially develop and operate two digital asset mining sites with a combined capacity of 250 megawatts.
- To power the sites, Marathon and Zero Two intend to leverage excess energy in Abu Dhabi, increasing the base load and sustainability of the Abu Dhabi grid.
- The equity ownership in the ADGM Entity will be 80% for Zero Two and 20% for Marathon.
- Previously, Marathon and Zero Two launched a pilot program to test the efficacy of building a large-scale digital asset mining operation in Abu Dhabi, where the desert climate has historically rendered air-cooled digital asset mining infeasible.