THE MINING POD: MARA’s Plans to Expand Internationally, Purchase Energy Assets w/ Adam Swick

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4.7 • 698 Ratings

🗓️ 1 March 2025

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

MARA wants to have 50% of its operations abroad by 2028. Here’s how they plan to do it. You're listening to The Mining Pod. Subscribe to the newsletter, trusted by over 8,000 Bitcoiners: https://newsletter.blockspacemedia.com Want to mine Bitcoin? Check out the Blockspace Media store today! Welcome back to The Mining Pod! For today’s Bitcoin Stock Show, MARA’s Chief Strategy Officer Adam Swick joins to discuss the forward-looking plans CEO Fred Thiel mentioned in MARA’s 2024 earnings call. Specifically, Swick unpacks claims that MARA wants to offshore 50% of its operations by 2028 by entering into similar joint-ventures as its Zero Two partnership in the UAE. Swick also speaks to the company’s goal to own more energy-generating assets in the United States and how it would finance such purchases. Finally, why MARA is so hot on the new ASIC manufacturer, Auradine, and whether or not we should expect MARA to enter the inference field for AI compute. • Mara went from 0% to 70% owned mining assets • Q4 revenue: $214.4M with lower operating costs • Target: 50% of operations outside US by 2028 • Wind farm acquisition extends life of older miners • Auradine partnership delivering quality ASIC miners • Focus on AI inference rather than training models Timestamps: 00:00 Start 03:53 MARA lowering OpEx 06:24 Trend toward owned assets 09:01 Zero cost mining 14:17 Debt financing BTC purchases 19:27 Considering power production 22:01 Foreign mining sites 27:08 Has Africa been sufficiently de-risked? 30:25 Free-er energy markets vs controlled 33:57 Auradine 40:40 AI & HPC 👉 CleanSpark (CLSK), America’s Bitcoin Miner! Cleanspark develops infrastructure for Bitcoin, an essential tool for financial independence and inclusion. Learn more by visiting https://www.cleanspark.com/! 👉 Digital Shovel, All Things Crypto Mining! Are you a Crypto miner looking to expand your operations leading into this next Bull Market? Digital Shovel is a leading manufacturer of modular mining pods, as well as PDUs & Switchgears. Industry leading prices starting at $69,000/MW for a complete datacenter, including Smart PDUs and switchgear. For more information, visit www.DigitalShovel.com 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. 👉 Nicehash, Hashrate, Bitcoin payments and mining! NiceHash is the world leading hashrate marketplace providing a full suite of tools and software for miners to optimize their operations. Based in Switzerland, NiceHash is a fully regulated crypto mining platform. Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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0:45.6	That's audible.com slash Wondery UK.
0:49.7	What's up, y'all? Welcome back to the mining pod. For this week's Bitcoin Stock Show,
0:53.9	we have Adam Swick, the chief strategy officer of Mara Holdings.
0:58.7	Mara just had its 2024 earnings call yesterday on February 26, and we were recording this on February 27th.
1:07.5	So we use the earnings call as a backdrop for this conversation and touch on a lot of what Fred Thiel, the CEO of Mera, said in the earnings call.
1:14.7	Specifically, we zoom in on Mera's strategy to continue to purchase energy assets and data centers for its operations.
1:23.3	Mera went from 0% to 70% of assets owned and operated under its label, whereas before
1:29.4	it was asset light and hosted a lot of its Bitcoin miners.
1:32.4	This has had a positive impact on Mera's cost of operations, so we touch on that.
1:37.2	We also look at this claim that Fred Theo made during the call that he wants Mera's
1:42.0	assets to be 50% outside of the U.S. by 2028.
1:46.6	I asked Adam how that's going to be possible, what are some of the opportunities they're looking at.
1:50.9	And we also touch on their relationship with Oridine and whether we should expect to see Mara continue to purchase hash rate from the burgeoning ASIC manufacturer.
	...

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