Crypto miner plans to exit Hardin coal-fired power plant | News

Cryptocurrency miner Marathon Holdings is slicing the twine with Hardin Generating Station, citing a necessity to be carbon impartial by yr’s finish.

The announcement follows a number of high-profile, nationwide articles about how Marathon breathed new life into the coal-fired power plant, which hadn’t operated persistently for a number of years. Marathon expects to exit Hardin inside six months.

“We would really like to thank the group at Beowulf and Hardin for the integral function they performed in serving to Marathon by means of the early phases of our journey to turn out to be one of many main Bitcoin miners in North America,” Fred Thiel, Marathon’s CEO mentioned in a press launch.

A bit an excessive amount of? Pairing of Hardin Power Plant and Bitcoin mine stalls

In the previous month, Marathon’s coal-powered Montana cryptocurrency mine had been written up within the New York Times, Los Angeles Times, Mother Jones and The Guardian. Earlier, the Wall Street Journal had taken discover.

Bitcoin mining requires high-powered computer systems that keep digital ledgers verifying split-second transactions of cryptocurrency. The trade’s each day electrical energy utilization has been in contrast to that of smaller nations. The 107-megawatt Hardin power plant, which for lack of shoppers teetered on the sting of closure lower than 5 years in the past, discovered new life as an power feedbag for warehouses filled with servers working full tilt each second of the day.

People are additionally studying…

NorthWestern Energy is not excited by taking over the Hardin coal plant, which faces closure by spring

The Congressional Research Service put the quantity of electrical energy going to crypto mining at 7,670 megawatts in 2019, the equal of greater than 5 Colstrip Power Plants. That power demand has raised issues about burning fossil fuels for the sake of mining crypto foreign money, which has pressured crypto miners to inexperienced up.

Marathon isn’t the proprietor of Harding Generating Station, that will be Beowulf, the power firm Thiel thanked in asserting the miner’s Hardin exit later this yr. Beowulf shares a company founder with crypto miner TeraWulf, which markets itself as a carbon-free cryptocurrency miner. Paul Prager is president of Beowulf, and CEO of TeraWulf.

Marathon wasn’t the primary cryptocurrency miner to flip to Hardin Generating Station for electrical energy. There was an try in 2019 by Big Horn Data Power to wire a mine to the coal-fired power plant, which will get its coal from Absaloka mine. The plan fizzled.

Marathon isn’t the one Montana crypto mine powered by coal. CryptoWatt Mining, of Butte, has a purchase-power settlement with Portland General Electric, which provides electrical energy from Colstrip.

Beowulf owes $4.5 million in again taxes are owed on the power plant.

Recommended For You

About the Author: Daniel