Key Takeaways
- Marathon Digital Holdings is using Bitcoin mining to heat a Finnish town.
- The project is Marathon's first district heating initiative and its debut in Europe.
- Data centers in the EU consume around 3% of the region's electricity, double the global average.
Marathon Digital Holdings, Inc. (NASDAQ: MARA), a leader in Bitcoin mining, has initiated a pioneering project in Finland to utilize heat generated from Bitcoin mining to warm a local community.
This 2-megawatt data center, operational since the end of May, is situated in the Satakunta region, which houses 11,000 residents.
Fred Thiel, Marathon’s chairman and CEO, said:
This pilot project in Finland is a critical step forward in our strategy to expand globally and innovate sustainably. We are not just producing digital assets; we are heating homes and integrating sustainable practices into our business model.
Marathon in Europe
This marks Marathon’s first district heating project and its European debut.
District heating, which involves centrally heating water and distributing it through underground pipes, is common in Finland due to its clean energy mix and reliance on biomass. By using heat from digital asset data centers, the project aims to lower carbon emissions and operating costs.
Cold climate ideal
Marathon’s “Heating with Hashes” report highlights Europe’s colder climate as ideal for district heating systems, which now collaborate with data centers that benefit from cooler temperatures and reduced energy consumption. The report notes that data centers in the EU consume double the global average electricity, making them prime candidates for heat recycling.
Adam Swick, Marathon’s chief growth officer, emphasized the company’s commitment to sustainability, stating,
We look forward to gathering more data from this project as we look for additional ways to leverage digital asset compute to build a more sustainable future.
