Bitcoin miner MARA has paid a $100 million power deposit for its data center project in Matagorda County, Texas, according to TheEnergyMag. The company also revised payment and exit terms tied to its transaction with sustainable fuel developer HIF USA. The site, located southwest of Houston, spans more than 1,200 acres and is planned for up to 2 gigawatts of power capacity. MARA said it intends to develop the property into a campus that supports both high-performance computing and Bitcoin mining. Under the amended agreement, some payments that were previously tied to regulatory approvals will now be made in two installments. If all project milestones are met, the total acquisition price will remain capped at $600 million.
Bitcoin miner MARA has paid a $100 million power deposit for its data center project in Matagorda County, Texas, according to TheEnergyMag. The company also changed the payment and exit terms in its transaction with sustainable fuel developer HIF USA.
The project is located southwest of Houston and covers more than 1,200 acres. It is planned for up to 2 gigawatts of power capacity, and MARA said it intends to use the site to build a campus for high-performance computing and Bitcoin mining.
Under the amended agreement, some payments that had previously been tied to regulatory approvals will instead be split into two installments. If all milestones are achieved, the total acquisition price for the project will remain capped at $600 million.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
