Bitcoin Mining Operation Genesis Digital Assets Announces New Data Center in West Texas – Mining Bitcoin News


Following a lot of ASIC mining rig acquisitions from the producer Canaan, the bitcoin mining operation Genesis Digital Assets introduced on Monday that the agency is growing an industrial-scale bitcoin mining information middle in West Texas. According to the announcement, Genesis says that the brand new facility can have 300 megawatts of capability with a “low carbon footprint.”

Genesis Announces New Bitcoin Mining Facility With 300 Megawatts of Capacity

The mining agency Genesis Digital Assets has introduced the launch of a brand new bitcoin mining facility that might be positioned in West Texas. The Genesis information middle will get power from the Electric Reliability Council of Texas (ERCOT). The entity ERCOT is a big energy provider in Texas and statistics say the agency provides 90 % of the state’s electrical load. Genesis stresses that the brand new information middle with 300 megawatts will showcase “sustainable infrastructure, high efficiency, and a low carbon footprint.”

The Texas facility announcement follows a slew of mining rig acquisitions Genesis took half in with the Chinese ASIC producer Canaan. In August, Bitcoin.com News reported on Genesis shopping for 20,000 ASIC miners from Canaan and the agency was given the choice to amass 180,000 ASIC mining rigs at a later date. Genesis particulars that the brand new operation in West Texas will “create job opportunities” and supply “work for local contractors.”

Abdumalik Mirakhmedov, the chief chairman and co-founder of Genesis Digital Assets, confirms that the brand new facility will assist bolster native employment alternatives. “As we continue our rapid expansion plans in the United States, we remain committed to our sustainability and social commitments, by identifying ways to power our industrial-scale bitcoin mining farms with renewable energy and create job opportunities for the local communities in which we operate,” Mirakhmedov mentioned in a press release.

Genesis Hopes to Manage 1.4 GW of New Data Centers by 2023

Genesis just lately signed a major procurement deal and in addition raised greater than $550 million in financing this yr. The current Genesis funding was led by Paradigm, and Alameda Research, Ribbit, Electric Capital, NYDIG, Stoneridge, Skybridge, and Kingsway Capital participated. The mining operation hopes to run “1.4 GW of new data centers by 2023” and as of as we speak, Genesis maintains over 170 megawatts or 3.8 Exahashes (EH/s) of devoted hashpower towards the Bitcoin (BTC) community.

“We’re full speed ahead on our mission to provide the infrastructure that will power the future of money,” mentioned Andrey Kim, the COO and co-founder of Genesis Digital Assets. “This new data center marks another key milestone as we work towards executing on our big picture vision.”

Meanwhile, a lot of bitcoin mining operations have been migrating to the state of Texas like Bitmain, Argo Blockchain, and EZ Blockchain. Just just lately a lot of oil producers met with bitcoin mining trade heavyweights to see how the 2 industries may collaborate. Texas has been steadily transitioning into a serious bitcoin mining hub over the past yr.

What do you concentrate on Genesis Digital Assets asserting a brand new bitcoin information middle in West Texas? Let us know what you concentrate on this topic within the feedback part beneath.

Tags on this story
1.4 gigawatts, 180K ASICs, 20K ASICs, Abdumalik Mirakhmedov, Andrey Kim, Bitcoin (BTC), bitcoin miner, Bitcoin mining, Canaan, Genesis Canaan, Genesis Digital Assets, mining, mining bitcoin, mining operation, Mining Rig Purchase, renewables

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