Marathon Digital Holdings Continues International Expansion With 100% Renewably Powered Bitcoin Mining Project In Paraguay
Portfolio Pulse from Benzinga Newsdesk
Marathon Digital Holdings, Inc. (NASDAQ:MARA) has launched a 27 megawatt Bitcoin mining project in Paraguay, powered by renewable, hydro energy. This is Marathon's second international deployment, following a project in Abu Dhabi. The project is a joint venture with Penguin Infrastructure Holding and will be built out in two stages, with the first stage expected to be energized in November. Marathon's CEO, Fred Thiel, highlighted the benefits of such deployments in regions with excess power, such as reduced power costs and increased mix of sustainable energy.
November 07, 2023 | 2:03 pm
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POSITIVE IMPACT
Marathon Digital Holdings' new Bitcoin mining project in Paraguay could potentially reduce power costs and increase the mix of sustainable energy. This could enhance the company's profitability and sustainability credentials.
The news of Marathon's expansion into Paraguay with a renewable energy-powered Bitcoin mining project is directly relevant to the company. This could potentially reduce operational costs and increase the company's sustainability, which could positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100