This week a Florida-based Bitcoin-tech company named MARA Holdings announced it had bought a 114-megawatt Texas wind farm, reports Chron.com, "and will subsequently take it off the power grid and use it to energize its mining operations."
MARA's CEO tells the site they're "leveraging renewable resources that would have otherwise been curtailed" while "reducing our bitcoin production costs through vertical integration, and demonstrating MARA's commitment to environmental stewardship."
The wind farms were not a part of the Electric Reliability Council of Texas (ERCOT) grid, but instead they were located within the Southwest Power Pool, which manages the market for the central U.S., including but not limited to most or parts of Oklahoma, Kansas, Nebraska, South Dakota and North Dakota... A 114-MW facility could power somewhere between 20,000 and 100,000 homes, depending on who you ask...
Historically, the facilities use up a lot of power and have generated backlash from neighbors who have complained about the noise of the machines inside. Texas has been a haven for cryptocurrency tech companies, primarily because of the state's space, deregulated power market and friendly business climate. Two weeks ago, the Public Utilities Commission adopted a rule requiring crypto and other virtual currency miners within the ERCOT grid to register their locations, ownership information and electricity demands, to further ensure that they could be watchful of this emerging source of energy consumption.
"Crypto mining operations currently consume around 2.3 percent of US electricity, and it requires roughly 155,000kWh to mine one Bitcoin," notes the site Data Centre Dynamics.
This is the second off-grid power deal MARA has signed over the last few months. In October, it launched a 25MW micro data center operation across oil wellheads in Texas and North Dakota. The data center will be powered exclusively by excess natural gas from oilfield production that would have otherwise been flared. The operation will be distributed across wellheads in Texas and North Dakota, with operational status expected by January 2025.
Some context from Bloomberg:
A few years ago Bitcoin miners took part in a global scramble for electricity to power their specialized computers... But the rise of AI, with its insatiable demand for electricity, dwarfed the needs of crypto and upended energy markets worldwide. Miners must now compete with much-larger tech firms for connections to electrical grids and power contracts. "Bitcoin miners are being forced to go look at marginal generation," said [MARA CEO Fred] Thiel. "The AI guys can afford to pay a much higher amount for energy than a Bitcoin miner"...
MARA's plan to mine only when the wind is blowing makes economic sense because its mine will house last-generation computers that would otherwise have been retired, Thiel said. "Thiel said he'd be interested to potentially buy more wind farms over time."
[ Read more of this story ](
https://news.slashdot.org/story/24/12/08/2345218/bitcoin-miner-purchases-112-megawatt-texas-wind-farm-takes-it-off-the-grid?utm_source=atom1.0moreanon&utm_medium=feed ) at Slashdot.