Mara Holdings Completes Acquisition of Texas Wind Farm for Bitcoin Mining
Mara Holdings has completed its acquisition of a wind farm in Hansford County, Texas, aimed at decreasing reliance on traditional power sources for Bitcoin mining. Key details include:
- The facility offers 240 megawatts of interconnection capacity and 114 megawatts of nameplate wind capacity.
- Mara now controls 136 megawatts of generating capacity following this acquisition.
- Last-generation ASIC mining hardware will be utilized, enhancing operational efficiency.
Chairman and CEO Fred Thiel noted this move marks a shift towards an “asset-heavy” business model, improving cost structure and sustainability efforts.
Despite these advances, Mara reported a 12% month-over-month decline in Bitcoin production as of January 2025, attributed to fewer blocks won amid network difficulty fluctuations. However, the energized hashrate remained stable compared to December.
To enhance revenue, Mara launched a Bitcoin lending program, planning to lend 16% of its Bitcoin holdings. As of January 31, 2025, the company held 44,893 BTC, with 7,377 BTC already lent out, expected to generate up to 10% returns through short-term agreements.