Marathon Digital Holdings, Inc. (NASDAQ:MARA), a firm focused on supporting and securing the Bitcoin ecosystem, has entered into an agreement with Nodal Power, a company that develops and operates renewable energy assets, “specifically in the biogas space, to launch a 280 kW Bitcoin mining pilot project in Utah that is exclusively powered by landfill methane gas.”
The pilot project is currently “fully energized and operational.”
According to the United Nations Environment Program (UNEP), methane is “80 times more harmful than CO2 for 20 years after it is released.”
According to the Environmental Protection Agency (EPA), municipal solid waste emissions, which accounted for approximately 14.3% of all methane emissions in the United States in 2021, “represent a lost opportunity to capture and use a significant energy resource.”
Marathon’s pilot project is part of “a broader initiative being conducted by the Company to validate its ability to capture methane emitted from landfills, convert it into electricity, and then use that electricity to power Bitcoin miners.”
By doing so, Marathon may be able “to help reduce greenhouse gas emissions while utilizing a completely renewable and off-grid energy source to power its Bitcoin miners.”
Fred Thiel, Marathon’s chairman and CEO, said:
“At Marathon, we are constantly seeking innovative ways to diversify our operations, lower our energy costs, and leverage the unique aspects of Bitcoin mining to better the environments in which we operate. By capturing the methane emitted from landfills and converting it into electricity to power our Bitcoin miners, we may have an opportunity to accomplish all of those goals simultaneously. The methane naturally produced from landfills, biowaste, and elsewhere is often stranded, and Bitcoin miners like Marathon are uniquely positioned to help convert this harmful gas into a productive source of clean, renewable energy. Should the results of the pilot project meet our expectations, we look forward to expanding our footprint in this area and helping landfill operators and others meet their environmental targets.”