In a recent podcast called the Mining Pod, Fred Thiel CEO of Marathon Digital Holdings, a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem, discussed their launch in the UAE and their operating model which includes utilizing UAE’s fossil offsets and or nuclear energy. Market capitalization of Marathon Digital Holdings with a market capitalization of $1.19 billion is the world’s 4378 th most valuable company recently announced its foray into the UAE through a joint partnership with a subsidiary of sovereign wealth fund in Abu Dhabi, called FS Innovation. The new entity in UAE will set up and operate two mining sites comprising 250 MW in Abu Dhabi, with FS Innovation controlling 80% of the project. As the majority shareholder, FS will appoint four directors to the board of the new entity, while Marathon will select one. As per the filing, the two sites are estimated to cost the two companies $406 million. Thiel discussed the ove...