Cryptocurrencies
Margins of Up to 90% Give Energy Firms That Mine Bitcoin an Edge
Energy companies see opportunities from helping Bitcoin miners
Source: Bloomberg
This article is for subscribers only.
When Beowulf Mining Plc built a data center in Montana for a major Bitcoin miner in 2020, the three-decade old energy company saw a big opportunity.
Whereas its client Marathon Digital Holdings Inc. was reliant on third parties for electricity, Beowulf had direct access to power in what could be a profitable play if it was to start mining Bitcoin itself.