Large Immersion-Cooled Crypto Mining Farms to Mine Bitcoin in Middle Eastern Desert – Mining Bitcoin News

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A project to build two large-scale facilities for cryptocurrency mining is underway in the United Arab Emirates (UAE). High-tech data centers will rely on a full-immersion solution to cool power-hungry miners, as the desert climate makes air-cooled mining impossible, attendees said.

Advanced crypto-mining facilities in Abu Dhabi to challenge cooling challenges in the Arabian Peninsula

Marathon Digital Holdings, a major US-based crypto-mining company, and emerging blockchain infrastructure developer Zero Two, are working to launch what they say are the first deep-dive bitcoin mining operations in the Middle East. East.

The partners have formed a joint venture, Abu Dhabi Global Markets (ADGM), to develop and operate two new digital asset mining sites with a combined capacity of 250 megawatts (MW), Marathon announced in a press release providing project information.

The largest 200 MW facility will be built in Masdar City, the sustainability hub of Abu Dhabi, the capital of the United Arab Emirates. The other 50MW crypto farm will be located in the Mina Zayed port area, the announcement states.

The sites will be supplied with excess energy, increasing the base load and sustainability of Abu Dhabi’s power grid. The two companies stressed that their intention was also to offset any unsustainably generated electricity used with clean energy certificates.

Construction of the crypto-mining farms is already underway and mining equipment has been ordered. Both sites, which will have a combined hashrate of around 7 PE/s, are expected to go live this year.

Before beginning the project, Marathon Digital and Zero Two launched a pilot program to establish the efficiency of a large crypto-mining operation in Abu Dhabi, where the hot desert climate makes mining cold and cold. impossible.

Initial results from the pilot indicate that operating mine sites in the UAE is now possible thanks to an ASIC miner cooling immersion solution, custom-built by the two companies, and the implementation of proprietary software to optimize their performance.

Equity ownership of the ADGM joint venture will be 80% for Zero Two and 20% for Marathon, with capital contributions in 2023 expected to total approximately $406 million. Details of the mining project come after analysts recently predicted that rising regulatory pressures, energy costs and taxes in current mining hotspots could lead to further migration of crypto miners to more favorable jurisdictions.

Keywords in this story abu dhabi, Bitcoin mining, cooling, crypto farms, crypto mining, immersion, joint venture, Marathon, Middle East, mining, mining facilities, mining project, UAE, Zero Two

Do you expect to see an increasing number of crypto mining setups in the Middle East? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a tech-savvy Eastern European journalist who loves Hitchens’ quote: Being a writer is who I am, rather than what I do. Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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