The world’s largest Bitcoin mining company, Marathon Digital Holdings, has begun a new initiative that will heat an entire town in Finland. According to a recent post on X, the pilot project uses heat from recycling spent on Bitcoin mining to provide heat for more than 11,000 people said the company.
According to the blog post, Marathon has initiated a 2-megawatt pilot project in the Satakunta region of Finland. The purpose is to heat the town with heat from crypto mining, making it the first district heating experimentation in Europe as far as Marathon is concerned.
Marathon’s Project Uses District Heating
In Finland, they use an approach called “district heating,” in which water is heated in one place and then transferred throughout the place by underground pipes to heat buildings. It works by taking advantage of the surplus heat generated from Bitcoin mining rigs, which could be a creative way for future residential heating.
According to data available from Companies MarketCap, Marathon Digital Holdings has a market capitalization in excess of $5.84 billion making it the leader in the Bitcoin mining industry and has a 33% higher market value compared to CleanSpark which is the second largest company with a market capitalization of $4.36 billion.
Bitcoin Mining Projects Provides Solutions
Marathon’s project radiates an entire town in terms of warmth. In the same vein, smaller companies have started looking for alternate ways. A prominent example is Heatbit which is used for heating purposes and can also purify the air while doubling up as a Bitcoin miner at a speed of 10 TH/s.
Hashlabs Mining also launched a project in April that enables the generation of heat through specially created Bitcoin mining machines. This project involves taking advantage of hydro-cooled WhatsMiner M63S, an ASIC mining device that releases hot water at approximately 70°C during its cooling phase.
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