Marathon Digital Holdings, Inc. (NASDAQ: MARA) (“Marathon” or “Mara”)
Marathon is an international digital asset technology company, focusing on blockchain ecology and digital asset generation, as well as digital currency mining. Marathon Miner belongs to Marathon Digital Holdings, which is responsible for the mining machine leasing business in the Indian market and the promotion of renewable energy.
How Cryptocurrency Miners Work
Bitcoin is a network-based, peer-to-peer anonymous virtual currency whose source code can be used by the public. It was originally proposed by Satoshi Nakamoto in 2009 and is the world’s first decentralized distributed anonymous digital currency. Bitcoin needs to be generated by executing an open and complex algorithm on a computer, commonly known as “mining”.
Cryptocurrency miners generate digital currency by consuming large amounts of electricity, for example, one bitcoin is currently worth Rs 2,000,000.
You can exchange your cryptocurrencies into assets on many cryptocurrency exchanges around the world. Or use cryptocurrencies for transactions in some countries.
Promoting renewable energy generation
About 74.4% of India’s electricity comes from coal-fired power plants, and there is still a huge power gap during peak electricity consumption.
Power shortages this summer could be worse than expected.
Accelerating the construction of renewable energy power generation will greatly alleviate the energy shortage.
But renewable energy generation is highly intermittent. Solar power stops working at night, and wind power stops working when the wind weakens.
As wind and solar add sudden shortfalls or excesses, building more energy storage or shutting down other power facilities adds to the cost.
When there is excess electricity on the grid, prices can turn negative.
Establishing a data center for Bitcoin mining near the new energy mine will reduce the operating cost of the new energy power plant by 12% and the construction cost by 5%. And can produce a large number of bitcoins.
Because the excess power can be supplied to the data center immediately without additional cost.
And it avoids the heating and loss of power during long-distance transmission.
Marathon Miner cooperated with NTPC, India’s largest energy group, to build two new energy power stations. And establish a supporting data center composed of a large number of mining machines.
Madhya Pradesh, Mandasore
Accelerate the construction of digital India
Digital India was launched by Prime Minister Narendra Modi on 1 July 2015 to connect rural areas with high-speed internet and improve digital literacy. The vision of the Digital India initiative is to achieve inclusive growth in e-services, products, manufacturing and employment opportunities.
Expand the construction of data centers by leasing cryptocurrency mining machines and speed up the construction of new energy power stations. Lead to more jobs and clean energy.
In the process of leasing mining machines, let more people know about cryptocurrencies and get a lot of wealth through cryptocurrencies. Advancing the development of Digital India.
Mara plans to spend 30 million rupees on charity work across India, which aims to help more poor people. Let more people get the opportunity to receive education and improve the quality of life.