- Bitcoin mining company Genesis Digital Assets hopes that by 2024, its new data center in Sweden will use 100% clean energy sources.
- The new facility in Scandinavia will work, according to the company, with a combination of “hydro, nuclear and wind power sources”.
The high energy consumption used by the miThe new facility in Scandinavia will work, according to the company, with a combination of “hydraulic, nuclear and wind energy sources”. Cryptocurrency swimming is possibly one of the biggest obstacles that digital assets have for increased adoption worldwide. Taking this into account, the crypto ecosystem works on it and Genesis Digital Assets, one of the largest industrial-scale Bitcoin mining companies in the world, proposed a novel plan
This company not only sees the present, but also the future: expects by 2024, in its new data center in Sweden, to use 100% clean energy sources. Bet to have a production of up to 100 megawatts.
The new facility in Scandinavia will work, according to the company, with a combination of “hydro, nuclear and wind power sources”. The firm pointed to the site CoinDesk what the energy mix will be: 54.5% hydroelectric, 42.8% nuclear and 2.7% wind.
“ANDhis latest expansion aligns with Genesis Digital Assets’ focus on identifying ways to power our facilities with clean energy while creating jobs for the local economy. I am pleased to see this project start and we look forward to expanding this hydro data center in the future.“, stressed Tim Liepold, who is the head of energy and added: “We are on a mission to provide the infrastructure that will power the open source monetary system revolution and this data center marks another key milestone as we work to execute on our overall vision.“.
Genesis Expansion
Genesis Digital Assets is not a beginner when it comes to Bitcoin and cryptocurrencies. Since 2013 they have created more than 20 industrial-scale mining farms, collaborating with more than 300,000 miners and mined more than a billion dollars in BTC.
Its latest ad is in line with those it made in 2021. The company achieved “one of the largest acquisition deals in industry history and raised over $550 million with the most recent round led by Paradigm with participation from NYDIG, Stoneridge, Alameda Research, Ribbit, Electric Capital, Skybridge, and Kingsway Capital”.
In turn, in November Genesis Digital Assets announced that construction will begin on a new mining data center in West Texas, which will have 300 megawatts of capacity. This means three times what will be implemented in Sweden.
Crypto mining and clean energies
Clean energy and Bitcoin promise to be a perfect marriage for years to come. Various companies and even countries use the leftover energy to mine digital gold. One of the cases occurs in South America.
The hydroelectric plants in Itaipú and Yaciretá in Paraguay currently generate a large amount of surplus energy that is wasted. There is a bill, with the support of a part of the local Congress, that would allow miners to settle nearby and thus put to good use what currently does not have it, as published three months ago on this site.
The proposal of Genesis Digital Assets in Sweden is not only attractive for the use of clean energy, but it can mean a trend within the crypto ecosystem.
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