Mining

Genesis Digital Locks In 708 MW of Energy for Bitcoin Mining


Genesis Digital Property secured 708 megawatts (MW) of energy for bitcoin mining within the first six months of the yr, the agency stated in a Wednesday press launch.

The facility capability is unfold throughout websites in west Texas, in addition to North and South Carolina.

The New York-based firm did not specify at what phases of growth the totally different websites are or when they are going to be prepared to start out working. It had not responded to CoinDesk’s request for remark by the point of publication.

Bitcoin mining websites can take months to finish.

Genesis raised $431 million to broaden operations in North America and the Nordic international locations in a funding spherical led by Paradigm Ventures final September, simply two months after it raised $125 million in a spherical led by Kingsway Capital.

Previous to the brand new websites, the miner had contracted for 100MW in Sweden, 300MW in Texas and an undisclosed quantity in South Carolina, in line with its web site.

Genesis Digital Property is separate from Genesis Buying and selling, the crypto lending agency owned by CoinDesk’s father or mother firm, Digital Forex Group.


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