The Nevada-based firm plans to relocate its coal-fired Hardin, Montana business to a location that uses non-carbon emitting energy sources. The move is intended to assist the corporation in meeting 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 effort for clean energy sources at its facilities represents a trend in the Bitcoin mining sector toward environmental consciousness, which has been triggered by politicians in jurisdictions all over the world.
“Change the Code, Not the Climate”
sustainable power sources elsewhere, taking a huge step toward 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 worldwide source” of carbon dioxide emissions in its most recent report.
Miners are increasingly quick to point out how ecologically friendly their operations are. On Monday, Gryphon Digital Mining and Sphere 3D called off their business merger, and both 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 has the third most Bitcoin of any publicly traded firm. The gap between it and MicroStrategy expanded further yesterday when Saylor stated that his company had purchased an additional 4,167 BTC worth $190.5 million at the time of sale.
Despite the company’s solid position in the sector, Thiel told Bloomberg on Monday that if the right offer came along, he would consider selling it.
Electricity flexibility in mining sites can be beneficial to the environment and public energy systems, according to a March 2021 study.
When the energy infrastructure is too stressed to handle the demand of Bitcoin miners, a flexible facility can generate its own electricity from renewable resources. Energy firms that buy Bitcoin miners can use excess or unused energy to power the mining machines, allowing them to enhance cash flow more efficiently.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/04/08/marathon-digital-relocate-the-montana-btc-mine-to-use-sustainable-power-sources/