PANews reported on December 3 that according to Bloomberg, according to documents submitted by Bitcoin mining company MARA Holdings Inc. to the U.S. Federal Energy Regulatory Commission, MARA acquired the North Texas wind farm in Hansford County from a joint venture between National Grid Plc and the Washington State Investment Commission. The transaction price has not yet been disclosed. MARA plans to use the facility's 114 megawatts of electricity to mine Bitcoin when the wind is blowing and stop operating when the wind is not blowing.
“Instead of moving power to where the market is, we can move the market to where the power is,” Fred Thiel, MARA chairman and chief executive, said in an interview, adding that the facility could operate about 30% of the time, eliminating reliance on the grid.
Thiel said MARA’s plan to mine only when the wind blows makes economic sense because its mines will house older-generation mining machines that would otherwise be retired. The sale is expected to be completed in the first quarter of 2025, and he is interested in buying more wind farms over time.
