Today, one of the world's largest bitcoin mining companies in terms of hash rate, Genesis Digital Assets (GDA), announced that it will gain access to 36 MW of power from the Tarbush data center in West Texas, adding 1 EH/s. to its full hash rate capacity.
GDAwhich was founded in 2013 and operates 19 mining facilities in North America, Europe and Central Asia, entered into a strategic hosting agreement with Lonestar Dream, a developer of immersion cooling systems for bitcoin mining devices, to run the Tarbush operation.
“This hosting agreement is an important milestone for us as we continue expansion in the West Texas region,” said Andrey Kim, CEO of GDA in a press release shared with 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 its flexible electric grid have driven the company to continue expanding in Texas.
Tarbush is located within the ERCOT West Hub, which is well suited for wind and solar energy production. In the first quarter of 2023, ERCOT, which stands for Electric Reliability Council of Texas, was the leading region in renewable energy production in the entire United States, according to S&P Global. AND PBS He recently acknowledged that Texas, a state once known for its oil production, is quickly becoming a leader in renewable energy.
According ERCOT, renewable resources such as wind and solar energy typically meet approximately 40% of energy demand in Texas. However, during some periods they can meet up to 75% of demand.
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Wind, solar and some hydroelectric power met 75% of power demand at ERCOT today shortly after 2:00, a new record. Add in nuclear power and the Texas grid was more than 80% emissions-free for most of the afternoon. And again, the prices were $0. Clean energy is low-cost energy. twitter.com/hashtag/txlege?src=hash&ref_src=twsrc%5Etfw”>#txlege twitter.com/hashtag/txenergy?src=hash&ref_src=twsrc%5Etfw”>#txenergy pic.twitter.com/rtbPBWnZMA
– Doug Lewin (@douglewinenergy) twitter.com/douglewinenergy/status/1773854717866615035?ref_src=twsrc%5Etfw”>March 29, 2024
“We believe that our commitment to renewable energy and utilization of some of the most advanced technologies in the bitcoin mining industry allows us to engage in efficient and reliable bitcoin mining operations,” Kim added.
For more information about GDA, visit the company page. website.
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