Bitcoin mining company MARA plans to acquire a wind farm in Texas, USA, for Bitcoin mining

According to Bloomberg, MARA Holdings Inc., a Bitcoin mining company, has acquired a wind farm in Hansford County, North Texas from a joint venture between National Grid Plc and the Washington State Investment Committee, according to documents submitted to the U.S. Federal Energy Management Commission. The transaction price has not been disclosed. MARA plans to use the facility's 114 megawatts of power for Bitcoin mining when there is wind and stop operations when there is no wind.

Fred Thiel, Chairman and CEO of MARA said in an interview: "We can move the market where power is located rather than moving power where the market is." He also added that this facility might operate around 30% of time which eliminates dependence on grid.

Thiel stated that it makes economic sense for MARA to mine only when there's wind because its mines will accommodate older generation miners due for retirement; this sale is expected to be completed by Q1 2025; he's interested in buying more wind farms over time.