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.
Bitcoin Magazine The Bitcoin Softfork That Tried to Police “Junk Data” — And Why It’s…
Bitcoin Magazine CleanSpark Signs $6.6 Billion Data Center Lease as Bitcoin Miner Pivots to Compute…
Bitcoin Magazine Bitcoin Price Jumps Above $64,000 as Cooler-Than-Expected Inflation Strengthens the Case for Rate…
BIP-110 sought to limit non-financial data on Bitcoin's blockchain but instead reignited debates over censorship…
Your day-ahead look for July 14, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin consolidated after Monday's selloff as Donald Trump threatened more Iran strikes, gold extended its…