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Marathon Digital Partners with Zero Two to Create Middle East's First Bitcoin Mining Operation

Marathon Digital Partners with Zero Two to Create Middle East's First Bitcoin Mining Operation

2023/5/10

Bitcoin mining company Marathon Digital (MARA) and digital asset service provider Zero Two have established a joint venture, Abu Dhabi Global Markets JV Entity (ADGM), to create the first large-scale Bitcoin mining business in the Middle East. Based in Abu Dhabi, Zero Two is a digital asset infrastructure development company focused on supporting the Middle Eastern capital's power grid. The joint venture will build a large-scale bitcoin mining facility in Abu Dhabi, the capital of the United Arab Emirates, initially developing and operating two digital asset mining sites with a combined capacity of 250 megawatts. It will be powered using excess energy from Abu Dhabi, using liquid immersion to cool the miners. The initial investment is about $406 million, of which Zero Two holds 80% of ADGM and Marathon holds 20%.

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