Marathon Digital moves Montana BTC mine to use sustainable energy sources
The Nevada-based company plans to move its coal-fired operation from Hardin, Montana to a location that uses non-carbon-emitting energy sources. The move aims to help the company achieve its goal of becoming carbon neutral by the end of 2022.
The Bitcoin miner’s attempt to run its operations on sustainable energy highlights a need in the industry for all mining operations to follow suit, or at the very least use flexible facilities.
Marathon Digital Holdings, a bitcoin (BTC) miner, wants to transfer its Montana mining plant to use
Marathon’s push for clean energy sources at its facilities represents a trend in the Bitcoin mining sector toward environmental consciousness, which has been sparked by politicians in jurisdictions around the world.
“Change the code, not the climate”
sustainable energy sources elsewhere, taking a big step towards carbon neutrality.
Greenpeace has launched a campaign called “Change the code, not the climate”, which aims to get Bitcoin to switch to more energy-efficient technology.
Meanwhile, the Intergovernmental Panel on Climate Change (IPCC) described cryptocurrency as a “major global source” of carbon dioxide emissions in its latest report.
Miners are increasingly quick to point out how environmentally friendly their operations are. On Monday, Gryphon Digital Mining and Sphere 3D called off their business merger, and the two companies made sure to say so in a joint statement.
Gryphon achieves carbon neutrality by purchasing carbon offsets, but Sphere 3D has yet to respond to a request for clarification on how it achieves this.
After Elon Musk’s Tesla and Michael Saylor’s MicroStrategy, Marathon holds the third-largest number of Bitcoins of any publicly traded company. The rift between him and MicroStrategy widened further yesterday when Saylor said his company bought an additional 4,167 BTC worth $190.5 million at the time of the sale.
Despite the company’s strong position in the sector, Thiel told Bloomberg on Monday that if the right offer arises, he would consider selling it.
According to a March 2021 study, electricity flexibility at mine sites can benefit the environment and public energy systems.
When the energy infrastructure is overstretched to meet the demand of Bitcoin miners, a flexible facility can generate its own electricity from renewable resources. Energy companies that buy Bitcoin miners can use excess or unused energy to power mining machines, allowing them to improve cash flow more efficiently.