Genesis Digital Assets announces a new 300 MW

PYOTE, Texas, November 01, 2021 (GLOBE NEWSWIRE) – Genesis digital assets, one of the world’s largest Bitcoin mining companies, today announced a new, industrial-scale, self-hosted bitcoin mining data center in West Texas.

The new data center will have a capacity of 300 megawatts with a sustainable infrastructure, high efficiency and a low carbon footprint thanks to energy from ERCOT, where more than 40% of the source comes from wind and solar energy. Additionally, the facility will create employment opportunities in West Texas, while providing work for local contractors.

Commenting on the new facility, Abdumalik Mirakhmedov, Executive Chairman and Co-Founder of Genesis Digital Assets, said: “As we continue our plans for rapid expansion in the United States, we remain committed to our sustainability commitments and social, identifying ways to power our industrial-scale bitcoin mining farms with renewable energy and create employment opportunities for the local communities in which we operate. “

“We are moving full speed ahead on our mission to provide the infrastructure that will power the future of money. This new data center marks another key milestone as we work to implement our bigger picture, ”said Andrey Kim, COO and co-founder of Genesis Digital Assets.

To support the company’s goal of launching 1.4 GW of new data centers by 2023, they recently signed the the biggest supply contracts in the history of the industry, in addition to raising more than $ 550 million in funding this year with the most recent tour led by Paradigm with participation from NYDIG, Stoneridge, Alameda Research, Ribbit, Electric Capital, Skybridge and Kingsway Capital.

As of October 2021, Genesis Digital Assets’ data center capacity was over 170 megawatts, resulting in a total hashrate exceeding 3.8 Exahashes (EH / s), or more than 2.4% of the global hashrate. bitcoin mining. Another 9.4 Exahashes (EH / s) will come online over the next 12 months, and by the end of 2023, Genesis Digital Assets expects to reach over 1.5 gigawatts of capacity. In September alone, the company mined 662 Bitcoins.

About Genesis Digital Assets

Genesis Digital Assets is one of the largest and most experienced Bitcoin mining companies in the world. Since 2013, the founders of the company have built more than 20 industrial-scale mining farms, brought more than 300,000 miners online, and mined more than $ 1 billion in Bitcoin.

The company was founded by five founders, Marco Streng and Marco Krohn of Genesis Mining and three former mining executives, Abdumalik Mirakhmedov, Andrey Kim and Rashit Makhat.

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