Marathon Digital, the mining company, announced the launch of a pilot project to mine Bitcoin using renewable energy drawn from methane captured at landfills.
Today, we’re announcing the energization our first #Bitcoin mining pilot project powered by renewable, off-grid energy from a landfill. The project is currently fully energized and operational. Learn more: https://t.co/RnqtJOvOCa pic.twitter.com/U1UPEgwmRm
— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) November 2, 2023
The initial installations with a total capacity of 280 kW will be located in the U.S. state of Utah. The project is being carried out in partnership with Nodal Power.
Marathon Digital representatives emphasised that they would scale up capacity if the investments justified expectations.
“Marathon’s pilot project is part of a broader initiative by the company to test its ability to capture landfill methane, convert it into electricity, and then use to power Bitcoin miners,” the press release said.
This is not the only example of using energy from alternative sources intended to mitigate greenhouse gas emissions.
Last year, startup Vespene Energy raised $4.3m to implement a landfill-mining project. There are companies such as Crusoe Energy, using energy from burning associated gas, which largely consists of methane, to mine Bitcoin.
A farmer in Ireland, Tom Campbell produces renewable energy using anaerobic digestion. He digests manure to such an extent that methane is released, which can be used to generate electricity.
According to the entrepreneur, his method produces up to 700 kW of electricity, equivalent to 12,000 households.
Methane is a greenhouse gas formed by the decomposition of organic matter. It traps heat 25 times more effectively than carbon dioxide, and its excess is considered one of the causes of global warming.
Earlier in August, Nodal Power closed a funding round of $13 million.
The company operates two power plants in the United States and plans to open a third in early 2024, for which the funds were allocated.