Today, Genesis Digital Assets (GDA), one of the world's largest bitcoin mining companies by hash rate, announced that it will gain access to 36 MW of power from the Tarbush data center, in West Texas, adding 1 EH/s. to its total hash rate capacity.
GDAwhich was founded in 2013 and operates 19 mining facilities across North America, Europe and Central Asia, has entered into a strategic hosting agreement with Lonestar Dream, developer of immersion cooling systems for bitcoin mining rigs , to manage the Tarbush operation.
“This hosting agreement is an important milestone for us as we continue our expansion in the West Texas region,” said Andrey Kim, CEO of GDA, in a press release shared with Bitcoin Magazine.
This is the 6th new location in Texas that GDA has expanded into in recent years. The state's abundance of renewable energy and its flexible power grid prompted the company to continue its expansion in Texas.
Tarbush is located in the ERCOT West Hub, well suited to wind and solar power generation. As of the first quarter of 2023, ERCOT, which stands for Electric Reliability Council of Texas, was the top renewable energy generation region in the United States, according to Global S&P. And PBS recently recognized that Texas, a state once well-known for its oil production, was quickly becoming a leader in renewable energy.
According to ERCOT, renewable resources like wind and solar normally meet about 40% of Texas’ energy demand. However, during certain periods they can meet up to 75% of demand.
Wind, solar and a tiny bit of hydropower met 75% of electricity demand at ERCOT today shortly after 2 p.m., a new record. Add nuclear and the Texas grid was more than 80% emissions-free for most of the afternoon. And again the prices were $0. Clean energy is inexpensive energy. #txlege #txenergy pic.twitter.com/rtbPBWnZMA
– Doug Lewin (@douglewinenergy) March 29, 2024
“We believe that our commitment to renewable energy and the use of some of the most advanced technologies in the Bitcoin mining industry allows us to engage in efficient and reliable Bitcoin mining operations,” Kim added.
For more information about GDA, visit the company website website.