Bitcoin mining company Marathon Digital collaborates with Zero Two to establish the first Bitcoin mining operation in the Middle East

ChainCatcher news, Bitcoin mining company Marathon Digital (MARA) has formed a joint venture with digital asset service provider Zero Two to create the first large-scale Bitcoin mining operation in the Middle East. Zero Two, headquartered in Abu Dhabi, is a digital asset infrastructure development company focused on supporting the power grid of the Middle Eastern capital.

This new project, named Abu Dhabi Global Market Joint Venture (ADGM), will initially develop two mining sites with a total capacity of 250 megawatts (MW). It will utilize excess energy from Abu Dhabi to power immersion-cooled mining machines. The initial investment is approximately $406 million, with Zero Two holding 80% of ADGM and Marathon holding 20%. (CoinDesk)