Genesis Digital Assets Expands Bitcoin Mining in Texas

Genesis Digital Assets Limited (GDA) is enlarging its bitcoin (BTC) mining operations in West Texas with a 50-megawatt (MW) increase across its Pyote and Vernon sites.

GDA is a private company based in the United Arab Emirates and the United States, boasting a total power capacity exceeding 600 MW. While it did not disclose its total hashrate, GDA Executive President, Abdumalik Mirakhmedov, stated that it is “one of the largest bitcoin mining companies in the world in terms of this metric.”

In comparison, Bitdeer (BTDR), a major public bitcoin mining company by infrastructure, has nearly 900 MW capacity, while industry giants MARA Holdings (MARA) and Riot Platforms (RIOT) each have over 1 gigawatt (GW).

The new deployment from GDA consists of two 20 MW buildings in the Pyote site, increasing its total to 195 MW, and a 10 MW container setup at Vernon, raising its capacity to 70 MW. GDA’s Pyote site has the potential for expansion up to 370 MW, as indicated on their website.

To maximize efficiency, GDA will utilize Texas’s demand-response program, allowing them to power down their rigs during peak electricity demand and receive compensation.

The company operates 20 data centers across various locations, including Texas, South Carolina, Sweden, and Argentina, with several powered by renewable energy sources such as wind, hydro, nuclear, and flared gas.

“Bitcoin mining is GDA’s core business. The company is currently exploring synergies with other emerging industries, including AI, to enhance and expand its mining operations,” Mirakhmedov disclosed to CoinDesk.

Read more: Genesis Digital Assets Plans 100% Clean Energy Mining Center in Sweden

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