• May 31, 2023


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Marathon Digital Intends to Build Mining Farms in Abu Dhabi

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Marathon Digital has partnered with firm Zero Two to launch Abu Dhabi Global Markets (ADGM), a joint venture to construct two large-scale mining sites with a combined capacity of 250 MW.

Zero Two will own 80% of the venture and Marathon will own 20%, with an estimated total investment of $406 million.

The two facilities will be located in Masdar City and Mina Zayed, and the digital assets mined will be split between the companies twice a month.

The two companies had previously tested the effectiveness of mining in Abu Dhabi with a pilot program which employed a custom immersion cooling solution and proprietary software.

By the end of 2023, the combined hash rate of the sites is expected to reach 7 EH/s. In the first quarter of 2023, Marathon mined 2,195 BTC, a 41% increase from the previous period.