Marathon Digital Expands Into Europe, Aims To Decarbonize Urban Heating

According to Blockworks, Marathon Digital is broadening its global footprint by entering the European market, a significant milestone in its worldwide diversification strategy. This move sets it apart from some North American rivals who are primarily focused on domestic projects. Marathon has recently activated a two-megawatt data center in the Satakunta region of Finland, with the aim of assisting in heating a local town of 11,000 residents. The company is experimenting with a process known as district heating, which involves heating water at a central location and then distributing it through underground pipes. This system is particularly aimed at decarbonizing heating in urban areas, according to Marathon. CEO Fred Thiel stated that such innovation could propel the digital asset compute industry forward and further solidify Marathon's leading position in the field. This initiative follows a pilot project in Utah, launched by Marathon in November, which was powered solely by landfill methane gas. The test proved that using landfill gas for digital asset computation is both economically feasible and environmentally beneficial. Marathon plans to explore more innovative uses for its data centers to promote sustainability, as stated in a recent news release. Geographic diversity is another key aspect of Marathon's strategy. This approach has been identified as a cost-reduction measure, particularly in light of the recent Bitcoin halving in April, which decreased per-block mining rewards from 6.25 BTC to 3.125 BTC. Marathon, headquartered in Florida, operates sites in Texas, Nebraska, and North Dakota in North America. Last year, the company expanded into the United Arab Emirates through a partnership with FS Innovation and is currently developing a 27-MW project in Paraguay powered by hydro energy. Marathon has also expressed interest in Africa as a potential solution for the energy sector, and recently partnered with Kenya's Ministry of Energy and Petroleum to support the country's energy growth. In contrast, some of Marathon's main competitors, such as Las Vegas-based CleanSpark and Colorado-based Riot Platforms, are focusing more on US expansion.