The site is owned by a joint venture between Hut 8 and a Fortune 200 renewable energy producer in which Hut 8 has an approximately 50% membership interest. Primary tenant is Marathon Digital.
The 29-acre TIER 0 facility in McCamey can be scaled up to 280 MW and will provide the co-located wind park with a guaranteed power off-take, thus eliminating the need to curtail production during peak generation. According to the company, this is the first behind-the-meter wind project of its kind.
The exclusive customer of the new facility will be Marathon Digital Holdings Inc (NASDAQ:MARA). The latter’s ASIC bitcoin miners will conduct onsite computing operations that convert power directly into a digital and transferrable store of value on the Bitcoin network.
- The site is a former Compute North facility that was sold in 2022 when Compute North went bankrupt.
- The site is one of the first behind-the-meter wind project of its kind. Co-located directly at the source of wind power, the facility will provide the wind farm with guaranteed power off-take.