Marathon Digital ventures into Latin America with a 27-megawatt Bitcoin mining project near Paraguay’s Itaipu Dam, powered by renewable hydro energy. The initiative, in collaboration with Penguin Infrastructure Holding, aims to leverage excess energy and boost regional potential.
Marathon’s CEO, Fred Thiel, highlights the significance of co-locating at sources like the Itaipu Dam. The project aligns with Paraguay’s goal to monetize surplus energy efficiently.
Bitcoin miner Marathon Digital, in partnership with Penguin Infrastructure Holding, launches a 27-megawatt Bitcoin mining project near Paraguay’s Itaipu Dam. The initiative taps into the region’s surplus energy, with Marathon’s CEO Fred Thiel emphasizing the strategic co-location at power sources like the Itaipu Dam.
The project unfolds in two phases, with 1.1 EH/s of Marathon’s miners set to be online by November. This move follows Marathon’s successful international deployment in Abu Dhabi. Thiel sees potential for Bitcoin mining to enhance regions with excess energy, positioning the Paraguay project as a valuable case study.
The endeavor aligns with Paraguay’s objective to monetize excess energy efficiently, leveraging its second-largest hydroelectric dam.