MARA Holdings, Inc. recently added a wind farm and over 6.000 bitcoins to its shopping list.
MARA Holdings, Inc., one of the world's leading crypto mining companies, has made a significant acquisition, adding a 240 MW wind farm to its infrastructure.
The Bitcoin mining company said the park, located in Texas, is part of its broader goals of “converting underutilized sustainable resources into economic value, achieving near-zero cost of energy, and enabling broader deployment of renewable energy,” as well as being the first site to launch its strategy to extend the economic life of BTC miners.
The acquisition of the wind farm is part of MARA Holdings’ strategy to diversify its energy sources and reduce dependence on fossil fuels. This wind farm will provide clean, renewable energy to power its Bitcoin mining operations in the region. This initiative is crucial at a time when cryptocurrency mining is facing criticism for its high energy consumption and environmental impact.
MARA seeks to make Bitcoin mining more profitable and sustainable
In a release Recently, Fred Thiel, MARA's President and CEO, reported that the acquisition of this wind farm will allow the company to reuse and power mining machines with 100% renewable energy and no marginal cost. By doing this, MARA will be able to take advantage of renewable resources that would have otherwise been wasted, reducing its Bitcoin production costs through vertical integration. At the same time, the company will be able to demonstrate its commitment to environmental protection and care, Thiel emphasized.
“This acquisition serves as a model for how the energy and data center sectors can collaborate to create long-term value while advancing sustainability initiatives.”He said.
According to Thiel, this wind farm will be the first implementation of his initiative called MARA's Advanced ASIC Retirement Initiative, designed to extend the economic life of bitcoin miners.
Bitcoin mining has been criticized for its high energy consumption and environmental impact. However, by using renewable energy, MARA Holdings will not only reduce its carbon footprint, but also improve its corporate image and attract investors and customers who value sustainability.
A solid investment strategy in Bitcoin
In addition to the wind farm, MARA has also added more than 6.000 BTC to its treasury reserves. With this purchase, which exceeded an investment of approximately $615 million, the company has positioned itself in second place in the ranking of Bitcoin holders, reinforcing the potential and adoption of the cryptocurrency as a store of value.
With this new acquisition, MARA Holdings' total Bitcoin reserves amount to 33.875 BTC, according to data from the Bitcoin Treasuries platform. At the current market value of Bitcoin, MARA's holdings exceed approximately $3.260 billion.
It is worth noting that MARA's recent bitcoin acquisition was partly funded by a successful convertible note offering, which was conducted for a total amount of $1.000 billion. The issuance of convertible bonds, used primarily by MicroStrategy, has become a key tool for companies seeking financing for the purchase of bitcoin.
