Genesis Digital Assets leverages renewable energy to increase Bitcoin mining capacity at new Texas facility.

Today, Genesis Digital Assets (GDA), one of the world’s largest Bitcoin mining companies by hash rate, announced that it will access 36MW of power at its Tarbush data center in West Texas, adding 1EH/s. Adapted to total hash rate capacity.

GDA, which was founded in 2013 and operates 19 mining facilities across North America, Europe and Central Asia, has signed a strategic hosting agreement with Lonestar Dream, a developer of immersion cooling systems for Bitcoin mining rigs, to operate its Tarbush operations. .

“This hosting agreement is an important milestone as we continue to expand into the West Texas region,” said Andrey Kim, CEO of GDA. Bitcoin Magazine.

This is the sixth new site in Texas that GDA has expanded to in recent years. The state’s abundance of renewable energy and flexible power grid has allowed the company to continue expanding its operations in Texas.

Tarbush is located within the ERCOT West Hub, which is well-suited for wind and solar energy production. As of the first quarter of 2023, ERCOT, which stands for Electric Reliability Council of Texas, was the region with the highest renewable energy production in the entire United States, according to S&P Global. And recently, PBS acknowledged that Texas, once a state known for its oil production, is quickly becoming a leader in renewable energy.

Renewable sources like wind and solar typically meet about 40% of Texas’ energy needs, according to ERCOT. However, in some periods it can meet up to 75% of demand.

Wind, solar and some hydro power met 75% of ERCOT’s power needs just after 2 o’clock today, a new record. Adding in nuclear power, the Texas grid was more than 80% emissions-free throughout the afternoon. And this time, the price was $0. Clean power is low-cost power. #txlege #txenergy pic.twitter.com/rtbPBWnZMA

— Doug Lewin (@douglewinenergy) March 29, 2024

“We believe that our commitment to renewable energy and utilization of the most advanced technologies in the Bitcoin mining industry enable us to engage in efficient and reliable Bitcoin mining operations,” added Kim.

For more information about GDA, visit the company website.