Key Takeaways:
- Marathon Digital Holdings has launched a pilot project in Finland to use excess heat from Bitcoin mining to warm homes, targeting over 11,000 residents.
- This initiative is Marathon’s first district heating project in Europe, utilizing a 2-megawatt facility to distribute centrally heated water via underground pipes.
- The project aims to explore new revenue streams and achieve zero-cost power for Marathon, especially in light of the upcoming 2024 Bitcoin halving.
Marathon Digital Holdings, the world’s largest Bitcoin mining company, has launched a pilot project in Finland that uses excess heat from Bitcoin mining to warm homes.
This initiative, announced on June 20, aims to provide heat to over 11,000 residents in the Satakunta region through a 2-megawatt facility.
In Finland, we launched a 2-megawatt pilot project to warm a community of 11,000 residents with recycled heat from digital asset computing. Take a look: pic.twitter.com/eIIlncxD3I
— MARA (@MarathonDH) June 20, 2024
This marks Marathon’s first district heating-based project in Europe.
The project employs district heating, a system where centrally heated water is distributed via underground pipes to heat homes.
This method utilizes the substantial excess heat generated by Bitcoin mining rigs, potentially offering a sustainable heating solution.
As Bitcoin miners face reduced block rewards due to the upcoming 2024 Bitcoin halving, Marathon is exploring new revenue streams.
The company sees this pilot project as a way to monetize excess heat and achieve zero-cost power for its operations.
JUST IN: Marathon is now warming a town of over 11,000 in Finland using heat from #Bitcoin mining 🤯 🇫🇮
— Bitcoin Magazine (@BitcoinMagazine) June 20, 2024
pic.twitter.com/BUEzj7zqOi
Marathon operates over 11 mining sites globally, controlling 4.8% of the Bitcoin network’s hashrate.
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