Genesis Digital Assets Expands Bitcoin Mining Operations in Texas
Genesis Digital Assets Limited (GDA) is making significant strides in its bitcoin (BTC) mining endeavors in West Texas by increasing its operational capacity by an additional 50 megawatts (MW) across its Pyote and Vernon facilities. As a private entity with a presence in both the United Arab Emirates and the United States, GDA has successfully amassed a total power capacity exceeding 600 MW.
Although the company opted not to disclose its total hashrate, GDA’s Executive President, Abdumalik Mirakhmedov, asserted that GDA ranks among the largest bitcoin mining companies globally in this regard. To put this into perspective, Bitdeer (BTDR), a prominent public bitcoin mining firm, boasts nearly 900 MW of operational capacity, while industry leaders like Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) each exceed 1 gigawatt (GW).
The recent expansion by GDA encompasses the construction of two 20 MW facilities at the Pyote site, which elevates its total capacity there to 195 MW, alongside a 10 MW container setup at the Vernon location, bringing its total to 70 MW. Notably, the Pyote site is designed for future scalability, with the potential to expand up to 370 MW, as detailed on GDA’s official website.
In a strategic move, GDA plans to leverage Texas’s demand-response program. This initiative allows the mining operation to temporarily shut down its rigs during peak electricity demand periods, thereby receiving compensation for this service. This approach not only enhances operational efficiency but also aligns with sustainability efforts.
GDA operates a network of 20 data centers across various regions, including Texas, South Carolina, Sweden, and Argentina. A significant number of these facilities utilize renewable energy sources such as wind, hydro, nuclear, and flared gas, underscoring GDA’s commitment to environmentally friendly practices.
“Bitcoin mining is at the heart of GDA’s operations. Currently, we are exploring synergies with emerging sectors, including artificial intelligence, to further enhance and diversify our mining capabilities,” Mirakhmedov shared in an interview with CoinDesk.
Read more: Genesis Digital Assets Plans 100% Clean Energy Mining Center in Sweden
Disclaimer: Portions of this article were generated with the assistance of AI tools and subsequently reviewed by our editorial team to ensure accuracy and compliance with our editorial standards. For more details, please refer to CoinDesk’s comprehensive AI Policy.
