Genesis Digital Assets Limited (GDA) is increasing its bitcoin mining operations in West Texas with a new 50-megawatt (MW) boost across its Pyote and Vernon locations.
GDA is a private firm based in the United Arab Emirates and United States, boasting a total power capacity exceeding 600 MW. Although the company withheld specific hashrate figures, Executive President Abdumalik Mirakhmedov indicated that GDA ranks among the largest bitcoin mining companies globally.
Key Facts:
- GDA is introducing 50 MW of mining capacity across two sites.
- The operational capacity now stands at 600 MW.
- The company has 20 data centers across various regions.
For comparison, Bitdeer (BTDR), a leading public bitcoin mining enterprise, possesses nearly 900 MW of capacity, while major players like MARA Holdings (MARA) and Riot Platforms (RIOT) exceed 1 gigawatt (GW).
The deployment includes two 20 MW structures at the Pyote site, increasing its capacity to 195 MW, and a 10 MW setup at Vernon, raising its total to 70 MW. Notably, the Pyote site has the potential to expand up to 370 MW, according to GDA’s website.
The firm intends to utilize Texas’s demand-response program, enabling it to deactivate mining rigs during periods of maximum electricity usage, with compensation provided.
Notably, GDA operates across jurisdictions including Texas, South Carolina, Sweden, and Argentina. Several of these sites utilize clean energy sources including wind, hydro, nuclear, and flared gas.
Mirakhmedov highlighted, “Bitcoin mining is GDA’s core business. The company is exploring synergies with emerging industries, such as AI, to enhance and expand its operations.”
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“Bitcoin mining is GDA’s core business. The company is currently exploring synergies with other emergent industries, including AI, to enhance and expand its mining operations,” Mirakhmedov stated.
For further reading, check out Genesis Digital Assets Plans 100% Clean Energy Mining Center in Sweden.
Disclaimer: Parts of this article were authored and refined using AI tools to ensure precision and compliance with standards.
