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Genesis Digital Assets Limited (GDA) has opened a hydro-powered <a href="https://ultramining.com/news/en/terawulf-reveals-impact-of-location-on-energy-costs-for-bitcoin-mining/" rel="noopener noreferrer nofollow">Bitcoin mining</a> data center in Sweden. Driven by Sweden's renewable energy surplus, the center is near the Porjus Hydroelectric Power Station. Consequently, GDA expects all electricity consumption to be renewable. The new center has an 8 MW capacity and anticipates a 155 PH/s hash rate. Furthermore, 1,900 <a href="https://ultramining.com/news/en/terawulf-reveals-impact-of-location-on-energy-costs-for-bitcoin-mining/" rel="noopener noreferrer nofollow">Bitcoin mining</a> machines are deployed in Porjus, according to <a href="https://genesisdigitalassets.com/gda-expands-its-bitcoin-mining-capacity-in-nordics-with-new-facility/" rel="noopener noreferrer nofollow">genesisdigitalassets</a>. 
Sweden, producing nearly all electricity from nuclear and hydropower, has been tapped for GDA's expansion. The CEO of Vattenfall, Sweden's largest energy producer, supports <a href="https://ultramining.com/news/en/terawulf-reveals-impact-of-location-on-energy-costs-for-bitcoin-mining/" rel="noopener noreferrer nofollow">Bitcoin mining</a>'s utility. Thus, Sweden is emerging as a favorable mining destination. Additionally, Sweden's pro-innovation environment and clean energy make it attractive for <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">Bitcoin miners</a>. 
Sweden, Finland, and Norway often have surplus, primarily renewable energy. Moreover, energy prices are sometimes negative in these regions. Therefore, the Nordics are offering market opportunities for <a href="https://ultramining.com/news/en/terawulf-reveals-impact-of-location-on-energy-costs-for-bitcoin-mining/" rel="noopener noreferrer nofollow">Bitcoin mining</a>. GDA’s new facility reflects a broader trend in Northern Europe, complementing existing operations in Texas and South Carolina. 
This hydro-powered expansion highlights a growing embrace of renewable energy in <a href="https://ultramining.com/news/en/terawulf-reveals-impact-of-location-on-energy-costs-for-bitcoin-mining/" rel="noopener noreferrer nofollow">Bitcoin mining</a>. While the industry has been seen as energy-intensive, this move underlines the potential of green solutions. The fact that <a href="https://ultramining.com/news/en/terawulf-reveals-impact-of-location-on-energy-costs-for-bitcoin-mining/" rel="noopener noreferrer nofollow">Bitcoin mining</a> consumes less than 0.7% of global energy reiterates that the perception of excessive consumption may be overstated. Sweden's entry into this field marks a significant step in aligning cryptocurrency with sustainability goals. 
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Sweden’s Hydro-Powered Leap into Bitcoin Mining: Genesis Digital Assets Unveils Green Future

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