250MW mining centers to be built in UAE desert climate
Marathon Digital and Zero Two to Build 250 MW Mining Centers in UAE Desert Climate
Marathon Digital and Zero Two plan to launch two cryptocurrency mining sites in Abu Dhabi this year at a total cost of $406 million
Marathon Digital, one of the largest U.S. miners, and developer Zero Two have announced the creation of bitcoin mining platforms in Abu Dhabi, UAE. According to a press release, the Abu Dhabi Global Markets (ADGM) joint venture will begin building two mining centers under equipment with a total capacity of 250 MW.
According to BitcoinTreasuries, the company ranks second behind Microstrategy in terms of bitcoins owned. It owns 12,200 BTC ($335.5 million).
Abu Dhabi-based Zero Two is developing infrastructure solutions for Web3 and digital assets in the emirate.
The site for 200 MW of mining equipment will be located in the "eco-city" Masdar, and another platform with a capacity of 50 MW will be built in the port area of Mina Zayed. Electricity will be supplied to the complex from the general power grid of Abu Dhabi.
Marathon's share in ADGM will be 20%, and Zero Two's share - 80%. Capital investment by the companies in proportion to their shares will be about $406 million. The digital assets extracted will also be distributed according to each company's shares twice a month.
To operate the equipment in the desert climate, the companies have developed a special immersion solution for ASIC-mainer cooling (liquid cooling) and implemented new software for performance optimization. The new solutions were successfully tested during the pilot project.
It is expected that the mining centers will be launched by the end of 2023, and their total hashing speed, according to the companies' calculations, will reach 7 EH/s (exache per second). According to BTC.com, the Bitcoin network's total global hash rate is about 337 EH/s as of May 10.
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