Marathon Teams Up with Abu Dhabi's Wealth Fund Major Development

Hey everyone, it's been forever since I jumped on the mining section. Just wanted to share this cool update... So, Marathon is teaming up with Abu Dhabi's sovereign wealth fund for this immersion cooling Bitcoin mining project. I think the big deal here is that Abu Dhabi's fund is getting involved. They clearly see the massive potential, especially with the U.S. looking to hit miners with new taxes. Curious to know what the mining crowd here thinks about this move.

Thank you for sharing this information with us. It's always interesting to see places using their excess electricity to power BTC mining. Especially given the current context, US laws and the rising price of kw/h in many places, we need more mining-friendly places to emerge. I imagine that if things get too complicated in the US, the hashrate will mostly redirect to Russia or Kazakhstan. I'm curious to see what other places I don't imagine now will host this hashrate. In the case of Abu Dhabi, I think I see that they have already ordered their ASICs, so it's not about hosting potential US ASICs. So I'm now waiting to see what real hashrate is going to come out of this infrastructure and to see what is the future there for the Bitcoin miners.

Marathon mined a company-record of 1,853 bitcoins in December and 12,852 bitcoins in 2023. The company also increased its average operational hash rate 18% month-over-month to 22.4 EH/s. It attributes its production growth directly to higher transaction fees on the Bitcoin network. In a bitcoin production and mining operation update published yesterday, Marathon Digital Holdings announced that it produced a company-record 1,853 bitcoins ($81.2 million at current prices) last month. https://www.theblock.co/post/270548/marathon-bitcoin-production-december-2023