Written by Derek Andersenformer writerReviewed by Ana Paula Pereirastaff editorGenesis Digital Assets opens three new facilities in South Carolina in US expansion
Latest NewsPublishedAug 1, 2023
The company has 400 MW of capacity spread across three continents, but most of its power is concentrated in Texas.
Bitcoin miner Genesis Digital Assets (GDA) announced on Aug. 1 that it has launched three new data centers in the American state of South Carolina. The facilities came online in February and March.
The facilities are located in the western part of the state, with the first opening in the town of Anderson on the site of an abandoned warehouse. It has a capacity of 18 megawatts (MW). Facilities were opened between the towns of Union and Lockhart the following month that have a combined capacity of 15 MW.
Genesis Digital Assets in South Carolina. Source: Genesis Digital Assets
The company said in a statement that the new facilities were part of an expansion in the United States. GDA North American head Ankit Joshi said, “We were impressed to see how these local communities welcomed us so warmly as an opportunity for their economy.”
The added capacity is rather modest compared, for example, to the 300 MW facility the company opened in Texas in 2021.
Genesis Digital Assets ramps up its US expansion, launching three state-of-the-art facilities in South Carolina! With 400 MW of capacity spanning three continents, they're making big moves in the crypto mining game. #GenesisDigitalAssets #USexpansion #CryptoMining— Block Savvy (@Block_Savvy) August 1, 2023
GDA emphasized that the facilities will run on clean energy. The Anderson data center will use Hitachi dry-type distribution transformers and will return power to the grid when needed. GDA CEO Andrey Kim said:
“Our goal is to be industry leaders and show the world that Bitcoin mining can be very ESG [environmental, social and governance]-friendly.”
GDA has built over 20 Bitcoin mining facilities in North America, Europe and Central Asia and has a total capacity of over 400 MW.
Related: Fortune debuts ‘Crypto 40’; Ethereum takes top honors for protocol category
The new centers are premiering as the Bitcoin (BTC) hash rate continues to climb in anticipation of the halving expected to occur on April 26, 2024. Mining difficulty has also climbed 51% this year to an all-time high. Meanwhile, the price of Bitcoin has also risen 78.88% this year.
Magazine: Bitcoin is on a collision course with ‘Net Zero’ promises
Subscribe to daily byte-sized crypto news from Cointelegraph
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
