Mining firm Genesis Digital Assets announces new data centre

Genesis is one of the largest bitcoin miners in the U.S., with the firm estimating it has mined more than $1 billion worth of BTC since its launch in 2013

The mining firm Genesis Digital Assets has announced the launch of a new bitcoin mining facility that will be located in West Texas, US. The Genesis data centre will get energy from the Electric Reliability Council of Texas (ERCOT).

The entity ERCOT is a large power supplier in Texas and statistics show the firm supplies 90 percent of the state’s electric load. Genesis stresses that the new data centre with 300 megawatts will showcase sustainable infrastructure, high efficiency, and a low carbon footprint.

Genesis is one of the largest bitcoin miners in the U.S., with the firm estimating it has mined more than $1 billion worth of BTC since its launch in 2013. As of October 2021, Genesis’ data centres represented an operational capacity exceeding 170 megawatts or a total hash rate of 3.8 exahashes per second (EH/s).

The firm has outlined that another 9.4 EH/s will go online during the next 12 months, with the company aiming to surpass a total capacity of 1.4 gigawatts by the end of 2023. Genesis estimates it represented 2.4% of the bitcoin network’s total hashing power during September.

The Texas facility announcement follows a slew of mining rig acquisitions Genesis took part in with the Chinese ASIC manufacturer Canaan. In August, Bitcoin.com News reported on Genesis buying 20,000 ASIC miners from Canaan and the firm was given the option to acquire 180,000 ASIC mining rigs at a later date.

Abdumalik Mirakhmedov, the executive chairman and co-founder of Genesis Digital Assets, confirms that the new facility will help bolster local employment opportunities.

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 said in a statement.

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