Construction of the Middle East’s First Liquid Immersion Bitcoin Mining Facility ─ Marathon Digital JV with Local Company | coindesk JAPAN | Coindesk Japan

Marathon Digital, a Bitcoin mining company, has established a joint venture (JV) with Zero Two, which is backed by the sovereign wealth fund of the Emirate of Abu Dhabi, United Arab Emirates (UAE), to develop the first liquid immersion cooling in the Middle East. Start a large-scale bitcoin mining business.

On the other hand, in the United States, the government has come up with a tax bill requiring cryptocurrency miners to pay an amount equivalent to 30% of their energy costs.

The new project, named “Abu Dhabi Global Markets JV Entity (ADGM),” will initially develop two mining facilities, according to the release. The total mining capacity will be 250 megawatts (MW) and will use Abu Dhabi’s surplus electricity, contributing to the baseload and sustainability of Abu Dhabi’s power grid. The necessary mining equipment and infrastructure have already been ordered and construction is underway.

Zero Two will own 80% of ADGM and Marathon will own 20%, with each sharing an initial investment of approximately $406 million in proportion.

Mining operators mainly use air cooling technology to cool their mining computers. However, in hot and humid environments, it is advantageous to cool mining equipment with liquid immersion rather than air cooling.

Mining by air cooling is impossible in Abu Dhabi’s desert climate. The Marathon and Zero Two projects will use liquid immersion cooling to significantly reduce maintenance effort, according to the release.

“Collaborating with Zero Two is a pivotal opportunity for Marathon and we look forward to working together to build a next-generation Bitcoin mining facility in Abu Dhabi,” said Marathon Digital Chairman and CEO Fred Marathon. Fred Thiel said.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Shutterstock
｜ Original: Marathon Teams Up With Abu Dhabi’s Zero Two for Middle East’s First Large-Scale Liquid Cooled Bitcoin Mining