Published on June 25, 2024
By: Ertix Truepatch
Following in the footsteps of the Hashlabs Mining project, Marathon Digital plans to use digital asset computing to heat homes in Finland. The company announced on X a pilot initiative to harness the heat generated by Bitcoin mining, aiming to provide warmth for over 11,000 residents.
“Marathon Digital Holdings has launched a 2-megawatt pilot project to recycle heat from its digital asset compute data center to warm a community of 11,000 residents in Finland… Marathon is exploring ways to monetize heat generated by its data centers allowing district heating systems to use this heat instead of burning fossil fuels or biomass for thermal energy. This pilot project represents an innovative test in Marathon’s pursuit towards developing new revenue streams and strategic approaches to achieving zero-cost power for digital asset computing, while offering new solutions for the world’s energy transformation”.
This initiative represents Marathon’s first district heating project in Europe. Essentially, the idea is to use the excess heat produced by mining equipment to centrally heat water, which is then distributed through an underground network of pipes.
Originally focused on patent acquisition, Marathon Patent Group, Inc. pivoted its focus in 2020 to specialize in mining crypto. This shift led to its rebranding as Marathon Digital Holdings. Today, the company leads the BTC mining industry with a market capitalization exceeding $5.28 billion. According to data from CompaniesMarketCap, CleanSpark, the second largest firm, is worth $3.78 billion.
Marathon currently controls 4.8% of the Bitcoin network hashrate and operates 11 mining sites globally, including locations in McCamey (Texas), Ellendale (North Dakota), Hernandarias (Paraguay), and Abu Dhabi. This information is available on their website.
Hashlabs Mining and Marathon Digital aren’t the only companies using BTC mining for heating purposes. For instance, Heatbit has offered a smaller-scale solution for several years—a smart electric heater that also functions as a BTC miner. This device uses electricity to mine Bitcoin at 10 TH/s while generating heat to warm a room.
“In 2023, we introduced Heatbit Trio—our second-generation device. Think Dyson, but with Bitcoin rewards.
This award-winner is built from aviation-grade aluminum and leather straps, offering more than warmth—it purifies your air, too. To secure the cutting-edge 5 nm chips (only produced by two companies in the world), we had to compete with the demand from giants like Apple and Nvidia. The effort to perfect the Trio involved over 50 suppliers. Now, when people say it looks and feels like a product that Apple would create if they were into Bitcoin, we know we nailed it.
Trio uses both a miner and a traditional heating element to keep you warm. All the while maximizing your mining rewards and ensuring energy efficiency”.
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