Marathon Digital (MARA), a Bitcoin miner, has partnered with Zero Two to build the Middle East’s first large-scale immersion dedicated to Bitcoin mining operations.
Web3 and crypto industry collaborations with financial and other industries are not new. However, we rarely encounter large-scale collaborations that introduce revolutionary solutions and operations in the Web 3.0 metaverse. Speaking of one, the partnership between a US-based miner and the digital asset infrastructure development company in Abu Dhabi called Zero Two is worth noting.
The Middle Eastern alliance comes as the White House campaigns for a new levy requiring crypto miners in the country to pay 30% of their energy bills.
According to a press release, the new project, dubbed Abu Dhabi Global Markets JV Entity (ADGM), will begin by developing two mining sites with a combined capacity of 250 megawatts (MW) of mining power.
The statement stated that the sites would be powered by excess energy in Abu Dhabi, increasing the base load and sustainability of that Middle Eastern capital’s power infrastructure. Each site’s mining equipment and infrastructure have already been ordered, and the building is ongoing.
Marathon Digital Holding took to its Twitter to announce this partnership on May 10th.
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Providing Miners with a Better Environment in Abu Dhabi:
Zero Two will own 80% of ADGM, and Marathon will own 20%. Their initial investment of about $406 million will be split this way.
Most digital asset miners use air cooling to keep their mining computers cool. But in places with high heat and humidity, miners with razor-thin profit margins can save a lot of money by cooling their tools with liquid immersion instead of air cooling.
In the press release, it was said that Abu Dhabi’s desert environment makes air-cooled digital asset mining impossible and that a pilot program for immersion cooling started by Marathon and Zero Two showed a big drop in maintenance ASIC miners need to do to produce hash rate.
The Pilot Program:
Marathon and Zero Two previously conducted a pilot program to see if building an air-cooled digital asset mining business in Abu Dhabi would be feasible, where the desert climate makes air-cooled mining difficult.
Hence, Marathon and Zero Two built a custom immersion cooling solution for ASIC miners and proprietary software to optimize their performance to overcome these environmental challenges.
Using Marathon’s and Zero Two’s technological advances, it is now possible to operate digital immersion asset mining sites in Abu Dhabi, according to the preliminary results of the pilot project, which show a significant reduction in the maintenance required for the ASIC miners to produce hash rates.
Now, the mining equipment and infrastructure needed to build each site have already been ordered, and work is already underway at both sites. With the high-end work in progress, miners believe that these sites’ digital asset mining operations will be among the most technologically advanced and energy-efficient in the world once they are operational.
According to the current construction schedule, both sites will have a total hash rate of about 7 EH/s and will be operational by the end of 2023.
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