MARA Expands Capacity to 372 Megawatts in Ohio Operations

MARA Expands Capacity to 372 Megawatts in Ohio Operations

MARA, a prominent player in the digital asset compute industry, has recently made significant strides in expanding its operations, adding approximately 372 megawatts of capacity across three sites in Ohio. These strategic acquisitions and developments highlight MARA's commitment to leveraging innovative technologies for energy transformation and sustainability.

Acquisition of Data Centers in Ohio

The company acquired two operational data centers in Ohio, with a combined capacity of 222 megawatts. Notably, the acquisition cost was set at $270 per kilowatt, which stands out as one of the lowest among larger public peers. The two centers are in Hannibal and Hopedale, both equipped with interconnection approvals that permit an expansion of an additional 100 megawatts. This step not only significantly boosts MARA's operational capacity but also showcases effective capital management in a competitive industry.

Development of Greenfield Sites

In addition to the acquisitions, MARA is actively developing a greenfield site in Findlay, Ohio, expected to contribute an additional 150 megawatts of capacity. Currently, this site has already established 30 megawatts of capacity, illustrating MARA's proactive approach in scaling its operations efficiently. The company aims to fully energize all sites by the end of 2025, a goal driven by robust planning and execution strategies.

Enhanced Operational Control and Flexibility

MARA's strategic acquisitions are not just about increasing numbers; they foster better operational control. As outlined by Salman Khan, MARA’s Chief Financial Officer, the acquisition of these data centers will enhance operational efficiencies, potentially reducing operational costs by up to 50% at the Hopedale data center. This increased operational control means that MARA can implement more effective systems, ensuring both stability and efficiency in its energy usage.

Performance Goals and Strategic Growth

MARA has set ambitious targets, including achieving 50 exahashes per second by 2024. This goal aligns with the increased capacity and operational enhancements from the new sites. The portfolio diversification across multiple jurisdictions also ensures minimized risk, with no ISO holding more than 50% of their operational capacity. This strategic positioning is expected to yield considerable savings while supporting reliable and sustainable growth.

Total Capacity Expansion in 2024

In its broader strategy, throughout 2024, MARA has secured nearly 1 gigawatt of additional capacity through acquisitions and new developments. This expansion brings the company's total nameplate capacity close to 1.5 gigawatts, of which approximately 65% is owned and operated by MARA. This remarkable growth underscores the company's robust strategy to lead in the digital asset space while promoting sustainability.

Commitment to Sustainability

MARA is dedicated to advancing the energy transformation by utilizing clean, stranded, or underutilized energy sources for its compute operations. This commitment not only propels the company forward but also plays a crucial role in fostering an inclusive and sustainable future in the digital asset sector. By transforming energy usage into economic value, MARA is set to make a tangible impact on how digital resources are managed.

Frequently Asked Questions

What is the total capacity added by MARA in Ohio?

MARA has added a total of 372 megawatts of capacity across three sites in Ohio.

Where are the newly acquired data centers located?

The acquired data centers are located in Hannibal and Hopedale, Ohio.

What is MARA's future capacity target for 2024?

MARA aims to reach a target of 50 EH/s by the end of 2024.

How does MARA plan to reduce operational costs?

By owning the sites and implementing effective operational measures, MARA expects to reduce costs by up to 50% at certain data centers.

What is MARA's approach to energy sustainability?

MARA emphasizes using clean and underutilized energy sources for its operations to support sustainability and energy transformation.

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