Today, one of the world's largest Bitcoin miners by hash rate, Genesis Digital Assets (GDA), announced that it will gain access to 36 MW of power from its Tarbush data center in West Texas, adding 1 EH/s to its total hash rate capacity. Retail.
GDA, which was founded in 2013 and operates 19 mining facilities across North America, Europe and Central Asia, has entered into a strategic hosting arrangement with Lonestar Dream, a developer of submersible cooling systems for Bitcoin mining hardware, to operate the Tarbush operation.
“This hosting agreement is an important milestone for us as we continue to expand in the West Texas region,” GDA CEO Andre Kim said in a press release shared with . Bitcoin Magazine.
This is the sixth new location in Texas that GDA has expanded to in recent years. The state's abundance of renewable energy and resilient power grid have prompted the company to continue expanding into Texas.
Tarbush is located within the ERCOT West Hub region, and is well suited for wind and solar energy production. As of the first quarter of 2023, ERCOT, which stands for the Electric Reliability Council of Texas, was the No. 1 region producing renewable energy across the United States, according to S&P Global. PBS recently acknowledged that Texas, a state once famous for its oil production, is quickly becoming a leader in renewable energy.
According to ERCOT, renewable resources such as wind and solar typically meet approximately 40% of Texas' energy demand. However, during some periods, they can meet up to 75% of the demand.
Wind, solar, and a little hydro met 75% of ERCOT's power demand today just after 2:00, a new record. Add to that nuclear power and the Texas grid was more than 80% emissions-free for much of the afternoon. Once again, prices were $0. Clean energy is low cost energy. #txlege #txenergy pic.twitter.com/rtbPBWnZMA
– Doug Winner (@douglewinenergy) March 29, 2024
“We believe that our commitment to renewable energy and the use of some of the most advanced technologies in the Bitcoin mining industry enables us to engage in efficient and reliable Bitcoin mining operations,” Kim added.
For more information about GDA, visit the company's website.
