Bitcoin Miner Marathon Digital Holdings announces plans to relocate its coal-powered Hardin, Montana facility to a location that uses non-carbon emitting energy sources.
The move is intended to assist the corporation in meeting its goal of becoming 100% carbon-neutral by the end of 2022.
To minimize disruption, the transfer will take place in stages and is slated to be completed in the third quarter of 2022.
Fred Thiel, Marathon’s chairman and CEO stated “With the majority of our fleet already scheduled to be deployed at renewable power facilities and deployments currently underway, we believe it is an appropriate time to transition our legacy operations away from fossil fuel generation and towards more sustainable sources of power.”
Considering the company’s solid position in the sector, Thiel told Bloomberg on Monday that if the right offer came along, he would consider selling it.
Energy producers, according to Thiel, may be most interested in acquiring Bitcoin mining operations because they would not have to worry about obtaining the contracts required to power their plants.
After Elon Musk’s Tesla and Michael Saylor’s MicroStrategy, Marathon has the third most Bitcoin of any publicly traded company. The gap between it and MicroStrategy expanded further yesterday when MicroStrategy bought an additional 4167 BTC worth $190.5M.