PANews, December 3 - According to Bloomberg, MARA Holdings Inc., a Bitcoin mining company, has acquired a wind farm in North Texas located in Hansford County from a joint venture of National Grid Plc and the Washington State Investment Board, according to documents submitted to the U.S. Federal Energy Regulatory Commission. The transaction price has not been disclosed. MARA plans to use the facility’s 114 megawatts of power for Bitcoin mining when it is windy and to halt operations when there is no wind.
MARA Chairman and CEO Fred Thiel stated in an interview: "We can move the market to where the power is, rather than moving the power to where the market is." He also added that the facility's operating time could be around 30%, which eliminates dependence on the grid.
Thiel stated that MARA's plan to mine only when it is windy makes economic sense, as its mining site will accommodate previous generation mining machines that would otherwise be retired; this sale is expected to be completed in the first quarter of 2025; he is interested in purchasing more wind farms over time.