- The “farm” will reach capacity of 7 EH/s by the end of the year
- The complex consists of two facilities in Mina Zayed and Masdar City
- With Zero Two owning 80% of the facility
Marathon and Zero Two announced a new project targeting the Middle East yesterday, May 9. The parties plan to launch a two-site, 250-MW mining complex in Abu Dhabi by the end of this year.
The current cost of the project is $406 million.. A new company, Abu Dhabi Global Markets, will be in charge of production. The complex will be set up in two areas of Abu Dhabi – Mina Zayed and Masdar City.
The facility will use surplus electricity from the city’s grid to power it.. The parties expect the complex to reach its target capacity of 7 EH/s by the end of this year.
It is interesting that Marathon Digital controls only 20% of the new facility. The company has just one vote on the board of directors.
It is also notable that the immersion complex. This means that the mining devices will run in liquid refrigerant.
Such a project is difficult in Abu Dhabi’s arid climate, but the parties seem to have found a solution.. The company mined a record amount of BTC in March.
Zero Two is owned by FS Innovation. It’s an infrastructure provider from Abu Dhabi. Not much is known about the company other than that it is actively interested in blockchain and Web 3.