SUBSCRIBE
PROFILE

MARA invests in a wind farm in Texas to support its mining operations

MARA Holdings acquires a wind farm in Texas with 114 MW capacity, aiming to reduce energy costs and optimize its ASIC equipment for cryptocurrency mining.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 €*

then 199 €/year

SUBSCRIBE — 99 € for the 1st year

Create a free account to read this article

*renews at 199€/year, cancel anytime before renewal.

MARA Holdings, Inc. (NASDAQ: MARA) has confirmed the acquisition of a wind farm in Hansford County, Texas. This strategic site boasts an interconnection capacity of 240 MW and a wind production capacity of 114 MW. This acquisition aligns with MARA’s goal of strengthening its energy infrastructure to support its cryptocurrency mining operations while significantly reducing operational costs.

A targeted energy strategy

The company plans to directly connect its mining machines to the wind farm, allowing it to utilize the energy produced at zero cost. This strategy eliminates fees associated with public grid usage and enhances the profitability of mining activities.

Recycling ASIC machines

Simultaneously, MARA is introducing its “Advanced ASIC Retirement Initiative” program to extend the economic lifespan of mining equipment. These machines, often deemed obsolete, will be repurposed for use on the site with the available energy capacity. This reduces the need for new equipment investments while increasing returns on existing assets.

An adaptable model

By focusing on projects like this, MARA adopts an integrated approach to maximize opportunities from underutilized resources. This model can be replicated at other sites to continue developing energy infrastructures tailored to the specific needs of mining.

Next steps

Subject to regulatory approvals, the transaction is expected to close in the first quarter of 2025. MARA plans to begin operations immediately thereafter, aligning this acquisition with its long-term vision of reducing energy costs and maximizing its material resources.

  • Popular on energynews.pro
Brazil Mobilizes $1 Billion for 65 Hydropower Plants
BOEM validates final review for 30 offshore sales in the Gulf of America
India diversifies coking coal purchases, Australia retreats
Quebec allocates $1.5M to meet the demand for wind turbine technicians
Equinor, Shell and TotalEnergies launch the first subsea CO2 injection in Norway
Polenergia commits 323 millions USD to offshore and storage projects
With 323 millions USD in cash, Polenergia strengthens its investments in offshore wind, solar and storage, targeting more than 2.3 GW of new energy capacity in Poland.
Valorem inaugurates 313 MW wind farm in Finland with 1 TWh annual output
French group Valorem has commissioned the ViIatti wind complex in Finland, made up of two farms totalling 313 MW and an estimated annual output of 1 TWh.
Trump Suspends $9.4 Billion Offshore Wind Project in the United States
The Revolution Wind project, already 80% complete, has been halted by the U.S. administration over national security concerns, creating major uncertainty in the sector.
Washington launches national security probe into imported wind turbines
The United States Department of Commerce is assessing the strategic impact of wind turbine imports amid rising tariffs and supply chain tensions.
RWE adds 34.2 MW of wind power on a former mining site in Aldenhoven
Six turbines installed by RWE on recultivated land near the Inden mine will supply electricity to around 24,000 households, while two new units are already planned.
Buchan Offshore Wind submits permit applications for a 1GW floating wind farm
Buchan Offshore Wind has submitted its marine consent applications to the Scottish authorities for a large-scale floating wind project, marking a strategic step in energy development in northeast Scotland.
VSB recommissions the Elster wind farm with 105.6 MW of installed capacity
The VSB Group has completed the repowering of the Elster wind farm in Germany, replacing 50 turbines with 16 new Siemens Gamesa machines, increasing the total capacity from 30 to 105.6 megawatts.
Montenegro: The EBRD Injects €26 Million to Expand the Gvozd Wind Farm
The EBRD’s additional financing will raise the capacity of the Gvozd wind farm to 75 MW, making it the largest in the country. This project, led by EPCG, marks a key industrial milestone in Montenegro’s energy sector.
Moscow develops Arctic turbines for the Northern Sea Route
The Russian Ministry of Industry and Trade is announcing "Arctic configuration" wind generators to power infrastructure on the Northern Sea Route, without listing any companies at this stage, with the stated aim of technological sovereignty.
Vestas maintains annual targets despite 44% drop in orders
The Danish turbine manufacturer posted a 14% increase in quarterly revenue, despite a sharp drop in order intake and negative cash flow.
Eurowind secures approval for two 86.4 MW wind projects in Germany
German authorities have approved two onshore wind projects totalling more than 86 MW, with commissioning planned from 2027.
Ørsted launches DKK60 bn capital increase with Danish state backing
Ørsted strengthens its financial structure with a rights issue backed by the state, following the failed partial sale of the US Sunrise Wind project.
Forestalia signs 10-year contract with Galp to refinance wind farm
Forestalia has signed a ten-year power purchase agreement with Galp Energia Espana to refinance a 42.7 MW wind farm in Aragon, securing stable revenues through coverage of 65% of its annual production.
Encavis AG acquires a 34 MW wind farm from PNE AG in North Rhine-Westphalia
Encavis AG continues its growth in Germany with the acquisition of a 34-megawatt wind project in Sundern-Allendorf, sold by PNE AG and secured by a twenty-year feed-in tariff.
Iberdrola receives the final Windar monopiles for its Windanker offshore wind farm
The last monopiles manufactured by Navantia Seanergies and Windar Renovables have been delivered to Iberdrola for the Windanker offshore project, marking a major milestone for the European XXL offshore wind component manufacturing industry.
Envision Energy validates reliability of its two-blade wind turbine with 500 days of stable operation
Envision Energy's two-blade prototype has now reached over 500 days of continuous operation, achieving a 99.3% availability rate and confirming its potential compared to industrial standards.
RWE secures four maintenance vessels to support its offshore wind fleet in Europe
RWE signs long-term agreements with North Star for four new service vessels, strengthening maintenance of its offshore wind farms in the United Kingdom and Germany amid a tight market for specialised maritime capacities.
AMEA Power launches Agadir desalination plant expansion with 150 MW wind farm
AMEA Power partners with Cox for the second phase of the Agadir desalination plant, set to reach 400,000 m³/day with power supplied by a 150 MW wind farm in Laayoune.
The 2 GW Northern Luzon floating wind project reaches key milestone in the Philippines
Buhawind Energy Northern Luzon Corporation secures grid connection study approval, bringing the launch of one of Southeast Asia’s largest offshore wind projects closer.
France secures EUR 11bn for three floating wind farms with European approval
France receives approval from the European Commission for a major public financing of EUR 11bn aimed at three floating wind projects totalling 1.5 GW, with a framework strengthening the national industry.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: €99 for the 1styear year, then € 199/year.

SUBSCRIBE - €99