Renewable Energy

<a href="https://ultramining.com/news/en/genesis-digital-assets-stala-obektom-krupnyh-vlozhenij-alameda-research-2/" rel="noopener noreferrer nofollow">Genesis Digital Assets</a> (GDA), a leading global bitcoin mining company, is setting a new standard for sustainable cryptocurrency mining with its latest venture in West <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">Texas</a>. 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 <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">hash rate</a> capacity. This strategic move, facilitated through a <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">hosting</a> 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 <a href="https://bitcoinmagazine.com/business/genesis-digital-assets-leverages-renewables-bitcoin-mining-texas" rel="noopener noreferrer nofollow">Bitcoinmagazine</a>.
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 <a href="https://ultramining.com/news/en/bitcoin-miners-set-for-a-tough-ride-as-2024-halving-nears-jp-morgan/" rel="noopener noreferrer nofollow">production</a>, is rapidly becoming a beacon of renewable energy, leading the <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/" rel="noopener noreferrer nofollow">US</a> 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.

Genesis Digital Assets Powers Up with Renewable Energy in Texas

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