Marathon Digital Holdings has redefined the storyline surrounding Bitcoin mining, by using its surplus heat for communities in Finland.
The company stated in a statement published on X Dec. 20, that it heats approximately 80,000 homes through a progressive approach that combines innovation with environmental responsibility.
This success builds on a pilot project launched in June, where Marathon supplied heat to 11,000 homes in Finland’s Satakunta region. With the recent expansion, Marathon now serves 67,000 additional residents.
In its statement from June, the bitcoin miner claimed to use district heating, which is a useful way to deal with the excess heat produced by Bitcoin mining. The system efficiently heats and channels water through underground pipes.
According to Companiesmarketcap data, Marathon is valued at approximately $7 billion and is the world’s leading Bitcoin mining company. The company is a leader in the cryptocurrency space, as it holds the position of the second largest publicly listed Bitcoin owner, having 44,394 BTC in its account.
Marathon is hailed by Stakeholders
Daniel Batten of Venture Capitalists highlighted the significance and importance of the landmark, saying:
“Bitcoin Mining Heat recycling is not an edge case any more, it’s a real thing, been done at increasing scale. 80,000 homes heated through Bitcoin mining is significant, and its just the start of what’s possible.”
Similarly, Bitcoiner Thomas Brand said this approach mitigates the environmental impact of mining operations and aligns with Finland’s long-term climate objectives. He said:
“Finland’s electricity production profile is very attractive from the perspective of industrial large-scale flexibilities, as there is little large-scale consumption flexibility (this can be seen directly from the fluctuation of electricity prices & the explosive growth of weak hourly prices).”
Meanwhile, Marathon’s commitment to sustainability goes beyond heat recycling. In order to increase its portfolio of renewable energy, Marathon acquired Hansford County Wind Farm in Texas earlier this month.
This acquisition, according to the firm, will help lower energy costs and ease grid congestion. It also promotes a wider adoption of renewable energies.
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