JOURNAL ARTICLE

Bitcoin Miner MARA Buys Texas Wind Farm as AI Crowds Out Crypto.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Saul, Josh 3 of 3

Abstract

Bitcoin miner MARA Holdings Inc. has purchased a wind farm in North Texas to power its operations, aiming to mine Bitcoin when the wind is blowing and halt operations when it's not. This move comes as big tech firms are increasingly consuming available electricity for their data centers, creating competition for energy resources. MARA's CEO, Fred Thiel, stated that the wind farm purchase will allow them to operate independently of the grid, and the company plans to use last-generation computers for mining. MARA's shares have seen a 9% increase this year, while Bitcoin's value has more than doubled. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/12, pN.PAG
  • Document Type:Article
  • Subject Area:Computer Science
  • Publication Date:2024
  • Accession Number:181287409
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