- MARA says the Texas wind farm has a capacity of 240 megawatts of interconnection and 114 megawatts of nameplate wind.
- The Bitcoin mining company will leverage the site to cut its Bitcoin mining costs.
MARA Holdings, a leading Bitcoin (BTC) mining firm and currently the world’s second-largest publicly-traded holder of the flagship digital asset, has completed the acquisition of a wind farm in Texas.
The company announced it closed the acquisition deal for Hansford County-based wind farm via a press release on Tuesday, Feb. 18.
In this latest expansion effort, MARA’s operations will benefit from an additional interconnection capacity of 240 megawatts. There’s also another 114 megawatts of nameplate wind capacity.
“The closing of this acquisition represents a significant milestone in MARA’s ongoing transformation as we expand our asset base, following our strategic shift from an asset-light to an asset-heavy business model,” Fred Thiel, MARA Holdings chairman and chief executive officer, said in a statement.
Extending miners’ economic lives
According to MARA, the new site is set to tap into the last-generation ASIC miners that were either set to be written off or sold on the secondary market.
Now these hardware will be repurposed and energized. This means 100% renewable and zero-marginal energy costs. It also means the mining company will be able to cut its production costs via vertical integration.
“With this added renewable energy asset, MARA now owns and operates 136 megawatts of generating capacity, strengthening our position across the entire energy generation and bitcoin mining process. This acquisition not only extends the economic life of our ASIC miners, but also drives reduction in operational costs, bringing us closer to achieving near net-zero operating costs,” Thiel added.
MARA Holdings chief financial officer Salman Khan added via a post on X:
“When paired with Bitcoin mining, intermittent wind energy reduces grid congestion during peak times, revitalizes renewable assets, and extends the economic life of mining machines. A triple win for miners, the grid, and wind producers,”
MARA first announced the acquisition of the wind farm in Dec. 2024.
At the time, the company noted that the new site would use the company’s Advanced ASIC Retirement Initiative to extend the lives of Bitcoin mining hardware.