Genesis Digital Assets Powers Up with Renewable Energy in Texas

Genesis Digital Assets (GDA), a leading global bitcoin mining company, is setting a new standard for sustainable cryptocurrency mining with its latest venture in West Texas. By tapping into 36 MW of power sourced from wind and solar energy, GDA aims to add an impressive 1 EH/s to its total hash rate capacity. This strategic move, facilitated through a hosting agreement with Lonestar Dream, underscores GDA’s commitment to leveraging renewable energy sources for its operations, particularly in regions like Texas where renewable energy is abundant and the power grid is adaptable, according to Bitcoinmagazine.

Founded in 2013, GDA has grown to operate 19 mining facilities across North America, Europe, and Central Asia. The Tarbush data center, GDA’s 6th expansion in Texas, benefits from the state’s rich resources in wind and solar energy, housed within the ERCOT West Hub. Texas, traditionally known for oil production, is rapidly becoming a beacon of renewable energy, leading the US in renewable energy generation output as of Q1 2023.

ERCOT reports that renewable resources can meet up to 40% of Texas’s energy demand, with the potential to supply as much as 75% during certain periods. This aligns with GDA’s mission to conduct bitcoin mining in an efficient and environmentally responsible manner, showcasing the potential for the cryptocurrency industry to contribute positively to the global transition towards clean energy.