Major Bitcoin mining player, Genesis Digital Assets (GDA), signaled a power-packed trajectory with the inauguration of three data centers in South Carolina this year. Contributing more than 2% to the total hash rate of the vast Bitcoin network, the expansion underwent into a terrain blessed with abundant and clean energy sources.
Settled near Anderson’s confines, the first data center has been functional since February, boasting an 18 MW capacity. Spring brought the remaining two plants to life, situated near Union and Lockhart, presenting a combined capacity of 15 MW. On top of that, the company made strides with a colossal 40 MW data center in Texas, said a spokesperson from GDA, underscoring a period of “considerable expansion.”
The preference for South Carolina wasn’t just random but deliberated over the state’s natural and eco-friendly energy avenues. An environmentally-conscious GDA has kitted the Anderson center with eco-friendly, dry-type distribution transformers. This tiny yet transformative measure, as GDA head honchos put it; significantly contributes to strengthening the local energy grid with a timely surplus power supply.
GDA even nestled a data center near two hydroelectric generation plants by Lockhart Power – a major contender in the region’s renewable and clean energy scene. As per Andrey Kim, GDA’s CEO, the new venture aligns with their ethos of clean energy resources, reflecting upon the inherent ESG potential of Bitcoin mining.
On the homefront, community reception has been enthusing. The Head of North America, Ankit Joshi, acknowledged how local communities see this as a valuable economic opportunity. In retort, GDA strives for deeper integration into the local fabric by pairing up with local suppliers and using local manpower. Take, for instance, the revamp of an erstwhile textile warehouse into the Anderson facility using North American infrastructure or how 83% of the workforce sprung from the locality.
The unveiling has been instrumental in generating nearly 150 jobs, including 125 local contractors involved in the setup.
The new feather in the cap for GDA, which since 2013, has charted out over 20 industrial-scale mining farms across North America, Europe, and Central Asia. The potent player, dealing in a power capacity of over 400 MW, has brought more than 300,000 miners online.
Summing it up, the expansion by GDA in South Carolina strikes the right chords, with its green approach and community inclusion, but it remains to be seen how it will impact the economy and environment in the long run. Let’s watch if this growth surge can mature into a sustainable model, leading crypto mining towards an environmentally-friendly future.
Source: Cryptonews
