Here’s How Marathon Digital is Using Bitcoin Mining to Heat a Finland Town

[PAI]

Leading digital asset technology firm Marathon Digital has found a way of utilizing the heat from its Bitcoin mining activities.

Marathon’s latest announcement revealed that it has launched a pilot project to warm a Finland community of roughly 11,000 residents with recycled heat from its Bitcoin mining operations.

Marathon Uses Mining to Warm Districts​

The Finland district heating project is Marathon’s first, marking its debut in Europe. District heating entails heating local buildings by distributing centrally heated water through underground pipes. Finland relies on biomass for district heating; however, this project is looking to reduce carbon emissions and operating costs.

Europe’s cold climate has attracted data center companies, which benefit from the continent’s reduced energy consumption and infrastructure costs. The cooler temperatures have also led to the creation of a network of district heating systems aimed at providing warmth to residents.

Although European data centers consume less energy, their collective share is at least double the global average, accounting for 3% compared to 1-1.5% globally. This also means that these companies generate significant amounts of heat, which could foster strategic partnerships with district heating systems.

Rather than waste the heat produced by data centers like Marathon, it could be recycled to meet heating demand in districts. This reduces costs and waste for the involved parties and nearly eliminates the need for carbon-emitting heat sources.

“Following the success of our pilot project in Utah, where we demonstrated that it is both economically viable and environmentally beneficial to use landfill gas for digital asset compute, we have continued to experiment with innovative ways that our operations can add value beyond securing distributed ledgers, like Bitcoin’s,” said Marathon’s chief growth officer Adam Swick.

Advancing the Crypto Mining Industry​

Marathon energized the 2-megawatt data center for the pilot project in late May in the Satakunta region of Finland. It is part of Marathon’s commitment to sustainability and exploring new revenue streams.

Marathon’s chairman and CEO, Fred Thiel, believes the project could propel the advancement of the crypto-computing industry and strengthen the Bitcoin miner’s leading position in the space.

“This pilot project in Finland is a critical step forward in our strategy to expand globally and innovate sustainably. We are not just producing digital assets; we are heating homes and integrating sustainable practices into our business model,” Thiel added.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!




Source link

The post Here’s How Marathon Digital is Using Bitcoin Mining to Heat a Finland Town appeared first on Panther AI.

Continue reading...