The power capacity is spread across sites in west Texas, as well as North and South Carolina.Read MoreCoinDesk
Genesis Digital Assets secured 708 megawatts (MW) of power for bitcoin mining in the first six months of the year, the firm said in a Wednesday press release.
The power capacity is spread across sites in west Texas, as well as North and South Carolina.
The New York-based company didn’t specify at what stages of development the different sites are or when they will be ready to start operating. It had not responded to CoinDesk’s request for comment by the time of publication.
Bitcoin mining sites can take months to complete.
Genesis raised $431 million to expand operations in North America and the Nordic countries in a funding round led by Paradigm Ventures last September, just two months after it raised $125 million in a round led by Kingsway Capital.
Prior to the new sites, the miner had contracted for 100MW in Sweden, 300MW in Texas and an undisclosed amount in South Carolina, according to its website.
Genesis Digital Assets is separate from Genesis Trading, the crypto lending firm owned by CoinDesk’s parent company, Digital Currency Group.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
The Bitcoin’s behavior around US Federal Reserve announcements has become one of the most consistent…
Bitcoin Magazine Bitcoin Falls Below $90,000 As Vanguard Exec Struggles With Bitcoin Value The bitcoin…
Bitcoin Magazine Why Trump Should Pardon The Developers of Bitcoins Non Custodial Samourai Wallet On…
Crypto markets saw a modest lift after the US Federal Reserve made another move on…
Bitcoin Magazine Sangha Renewables Energizes 20 MW Bitcoin Mining Facility in West Texas Sangha Renewables…
Chipmaker Broadcom's 10% slide weighs on the market as Chicago Fed's Goolsbee signals more cuts…