The post Marathon Digital Expands To Europe appeared on BitcoinEthereumNews.com.

Marathon Digital expands into Europe with innovative, sustainable Bitcoin mining projects, while competitors focus on US operations. Marathon Digital Holdings is broadening its scope by expanding into Europe, marking a significant step in its global diversification strategy. This move contrasts with many North American competitors focusing on domestic projects. Marathon has recently powered up a two-megawatt data center in Finland’s Satakunta region.  This center will help heat a town of 11,000 people through district heating, which involves warming water centrally and distributing it via underground pipes. Marathon aims to use this method to decarbonize urban heating systems. CEO Fred Thiel stated, “This kind of innovation can advance the digital asset compute industry and strengthen Marathon’s position.”  This project follows a pilot initiative in Utah, where Marathon used landfill methane gas to power operations, proving it is both economically and environmentally viable. Marathon plans to find more innovative ways to use its data centers for sustainability. In April, Swick from Marathon emphasized solving energy problems, not just consuming energy, as a key to long-term competitiveness. Geographic diversity is crucial to Marathon’s strategy to reduce costs, especially before and after the recent Bitcoin halving, which cut mining rewards from 6.25 BTC to 3.125 BTC.  Based in Florida, Marathon’s North American operations include sites in Texas, Nebraska, and North Dakota. Last year, Marathon expanded into the United Arab Emirates through a joint venture with FS Innovation.  By November, the company announced a 27-megawatt project in Paraguay powered by hydro energy. In February, Marathon revealed plans to explore opportunities in Africa to show that Bitcoin mining can help the energy sector.  Recently, Marathon partnered with Kenya’s Ministry of Energy and Petroleum to support the country’s energy growth. In contrast, some of Marathon’s major competitors are focused on expanding within the United States. Las Vegas-based…

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Filed under: News - @ June 22, 2024 8:28 am