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Genesis Digital Assets announces new data center in Texas

Main U.S.-based Bitcoin (BTC) mining agency Genesis Digital Belongings is constructing a brand new information heart in West Texas.

In response to the agency’s Nov.1 announcement, the brand new industrial-scale BTC mining information heart can have a capability of 300 megawatts and can function utilizing unspecified “sustainable infrastructure.” Its vitality shall be sourced from the Electrical Reliability Council of Texas (ERCOT).

As a part of the announcement, Genesis co-founder and govt chairman Abdumalik Mirakhmedov emphasised that “sustainability” is a key a part of the agency’s plans for “speedy growth.”

ERCOT provides greater than 26 million clients in Texas with electrical energy. As of April this 12 months, 42% of its vitality provide was sourcedfrom wind and photo voltaic.

Genesis is without doubt one of the largest Bitcoin miners within the U.S., with the agency estimating it has mined greater than $1 billion price of BTC since its launch in 2013. As of October 2021, Genesis’ information facilities represented an operational capability exceeding 170 megawatts or a complete hash charge of three.8 exahashes per second (EH/s).

The agency has outlined that one other 9.4 EH/s will go “on-line in the course of the subsequent 12 months,” with the corporate aiming to surpass a complete capability of 1.4 gigawatts by the tip of 2023. Genesis estimates it represented 2.4% of the Bitcoin community’s complete hashing energy throughout September.

Main U.S.-based Bitcoin (BTC) mining agency Genesis Digital Belongings is constructing a brand new information heart in West Texas.

Bitcoin miner maker Canaan information highest quarterly revenue since 2019 IPO

Genesis has raised a complete of $556 million from two separate funding rounds in 2021 to gas its aggressive plans for growth.

In July, the agency introduced a $125 million fairness funding spherical, with among the funds going in the direction of a deal to buy 20,000 Bitcoin miners from Canaan the next month. As a part of the deal, Canaan additionally granted Genesis a chance to buy as much as 180,000 extra BTC mining machines.

In September, the agency secured $431 millionto increase its U.S. and Norther European operations in a funding spherical led by Paradigm.


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