Major US-based Bitcoin (BTC) mining company Genesis Digital Assets is building a new data center in West Texas.
According to the November 1 signing ad, the new industrial-scale BTC mining data center will have a capacity of 300 megawatts and will operate using an unspecified "sustainable infrastructure". Your power will be sourced from the Electrical Reliability Council of Texas (ERCOT).
As part of the announcement, Genesis co-founder and CEO Abdumalik Mirakhmedov emphasized that "sustainability" is a key part of the company's plans for "rapid expansion."
ERCOT supplies electricity to more than 26 million customers in Texas. As of April this year, 42% of its energy supply was originally wind and solar.
Genesis is one of the largest Bitcoin miners in the US, and the company estimates that it has mined more than $ 1 billion worth of BTC since its launch in 2013. In October 2021, the Genesis data centers accounted for an operating capacity greater than 170 megawatts or a total hash rate of 3.8 exahashes per second (EH / s).
The firm has noted that another 9.4 EH / s will be "online over the next 12 months," and the company aims to exceed a total capacity of 1.4 gigawatts by the end of 2023. Genesis estimates that it represented 2.4 % of the total of the Bitcoin network. hash power during september.
Major US-based Bitcoin (BTC) mining company Genesis Digital Assets is building a new data center in West Texas.
Related:Bitcoin Mining Maker Canaan Records Highest Quarterly Gains Since 2019 IPO
Genesis has raised a total of $ 556 million from two separate funding rounds in 2021 to fuel its aggressive expansion plans.
In July, the firm announced a $ 125 million equity financing round, with some of the funds earmarked for a purchase agreement 20,000 Bitcoin miners from Canaan the next month. As part of the deal, Canaan also granted Genesis the opportunity to purchase up to 180,000 additional BTC mining machines.
In September, the firm obtained $ 431 million to expand its operations in the US and Northern Europe in a funding round led by Paradigm.
Post navigation
Next Post
