Marathon Digital Launches 27-Megawatt bitcoin Mining Project in Paraguay

Marathon Digital, a bitcoin miner, has expanded internationally with a new 27-megawatt bitcoin mining project near Paraguay’s Itaipu Dam. The project is powered by renewable hydro energy.

According to a press release, Marathon Digital partnered with Penguin Infrastructure Holding to launch the project. The first miners are already on site and being prepared for installation and energization.

Marathon’s chairman and CEO, Fred Thiel, commented, “This project is our second international deployment and marks our first into Latin America.”

Marathon Digital Announces Second International Deployment

Marathon and Penguin will run the project in two stages, bringing 1.1 EH/s of Marathon’s miners online. The first phase is expected to conclude in November, with seven megawatts powering approximately 0.3 EH/s of Marathon’s miners. The second phase, powering 0.8 EH/s of Marathon’s miners with 20 megawatts, will be complete in 2024.

Thiel added, “We believe this project may serve as an excellent case study for the value bitcoin mining can bring to regions with excess power. We look forward to expanding our operations in Paraguay and elsewhere.”

Paraguay to Monetize Excess Energy

The Itaipu Dam is the second-largest hydroelectric dam in the world and produces roughly 32 terawatt hours of surplus energy per year. Marathon aims to help Paraguay monetize its excess energy without the need for expensive transmission lines and additional infrastructure.

Marathon’s second international deployment comes shortly after the company launched a 280-kilowatt bitcoin mining pilot project powered by landfill methane gas in Utah.

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