Marathon Digital Holdings, Inc. (NASDAQ: MARA) launches a 27-megawatt Bitcoin mining project in Paraguay that will be powered entirely by renewable hydro energy, according to an official press release. The first batch of mining machines has arrived at the site and is currently being prepared for installation and powering up.
The project is a joint venture and will be constructed in two phases. The first phase will utilize approximately 7 MW of power to provide Marathon with approximately 0.3 EH/s and is expected to be energized in November. The second phase will use approximately 20 megawatts of electricity to provide approximately 0.8EH/s power to the Marathon mining machine and is expected to go online in 2024.