Marathon Digital Holdings has initiated a pilot project in Finland. The project recycles heat from Bitcoin mining to warm a local community in the Satakunta region, which has 11,000 residents.
The 2-megawatt data center began operations in May.
"This pilot project in Finland is a critical step forward in our strategy to expand globally and innovate sustainably," Fred Thiel, Marathon's chairman and CEO, said. Thiel also emphasized the dual benefits of producing digital assets and heating homes.
It is the company's first district heating project and its European debut. District heating involves centrally heating water and distributing it to local buildings.
Finland is known for its clean energy mix. The country relies heavily on biomass for district heating. The project aims to reduce carbon emissions and operating costs by using heat from data centers.
Marathon's "Heating with Hashes" report provides context for the project. "Europe's colder climate has given rise to an extensive network of district heating systems," the report states. It notes that data centers benefit from the cooler temperatures in Europe.
The report highlights a unique opportunity. Data centers in the EU consume a higher share of electricity compared to the global average. These facilities generate significant heat, which can be recycled for district heating.
Marathon sees this as a win-win situation. "One industry needs heat, while the other generates plenty of it," the report explains. This approach could reduce costs and waste while decreasing reliance on carbon-emitting heat sources.
The project aligns with Marathon's sustainability goals. The mining company now operates twelve sites on four continents. The company has high hopes with the heating market.
Marathon aims to enhance its sustainability portfolio through heat recycling. It also seeks to explore new revenue streams. These efforts align with its goal of achieving zero-cost power for digital asset computing.