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- 1 Marathon Digital holds nearly 14,000 BTC as of October 2023.
- 2 Riot Platforms is currently the biggest crypto miner in the US.
Nevada-based crypto miner Marathon Digital has announced a new Bitcoin (BTC) mining pilot project in the US state of Utah. The 280kW facility is launched in collaboration with a renewable energy-focused company Nodal Power. The crypto mine will reportedly draw power from methane gas springing from landfills.
Methane to Fuel Crypto Mining
The company claims to be seeking ways to prevent environmental blows due to crypto mining. Fred Thiel, Marathon CEO and Chairman, explained, “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.”
He further added, “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.”
According to the US Environmental Protection Agency (EPA), there are currently 55 landfills in Utah. Landfills are among the primary sources of methane emissions. The gas is considered a hazardous air pollutant affecting ground-level ozone. Additionally, the greenhouse gas (GHG) is responsible for 30 percent of the current rise in global warming.
Drawing power from methane may, to some extent, aid the environment. However, crypto mining allegedly has other detrimental impacts. A United Nations’ (UN) study finds Bitcoin mining exploiting land and water resources through its operations. The report says it takes up land 1.4 times the landmass of Los Angeles, and water sufficient to quench 300 Million Sub-Saharan Africans.
Other US states including Arkansas, Kentucky, and Texas saw some backlash for crypto mining operations. Riot Platforms, the biggest crypto-miner in the country, is developing a Bitcoin mining facility in Navarro County. Some activists raised their voices as to how this development can affect natural resources in the region.
Constant humming noise or drones originating from crypto mining operations is becoming a growing concern in many counties. From humans to birds, the sound strikes as being repulsive. Bryan King, an Arkansas Senator from District 28, tried taking this issue to the governor’s office. However, the office denied his request according to NBC affiliate KATV.
The US is currently the biggest Bitcoin hashrate globally. Hashrate determines the power consumption by a network. Proof-of-Work (PoW), an energy-intensive process involved in crypto mining, is the primary reason why digital assets have the attention of environmentalists.
As of now, the activity does not contribute to carbon emissions significantly. Nevertheless, increasing interest and intriguing profits that the market has delivered in the past appeal to many to join this crypto-mining wagon. Price fluctuations play a role in deciding the type of fuel to be used by the miners.
While low prices drive them to use cheap fuel contributing to carbon emissions, the advancing market enables them to go for expensive but cleaner fuel.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
