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Genesis Digital Assets Announces Expansion of Bitcoin Mining in South Carolina

Last updated: August 2, 2023 05:56 EDT

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated:

August 2, 2023 05:56 EDT

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Major Bitcoin mining company Genesis Digital Assets (GDA) has announced the opening of three new data centers in South Carolina, USA, which has “abundant and clean energy sources.”

The facilities are located in the Western region of the southeastern state, said the press release.

All three sites began operations this year with a combined capacity of 33 megawatts (MW).

The first data center, situated near the town of Anderson, has been operational since February and has a total capacity of 18 MW.

The other two facilities, running since March, are located between the towns of Union and Lockhart, with a total capacity of 15 MW.

Additionally, in October last year, GDA announced officially breaking ground on a new, 40 MW data center in Texas.

This latest announcement, the company said, came during “a period of expansion” of its US-based data centers, which now account for more than 2% of the total hash rate of the Bitcoin network.

As to why they chose this state for the expansion, the mining company stated that,

“The fact that South Carolina also has abundant and clean energy sources also influenced the decision to open these new data centers in that part of the country.”

The Anderson data center is using environment-friendly, dry-type distribution transformers, GDA said, arguing that it will be “a critical resource” for strengthening the local energy grid by returning excess power when it’s needed.

Another data center is located near two hydroelectric generation plants by Lockhart Power, described as “one of the region’s biggest renewable and clean energy suppliers.”

Andrey Kim, the CEO of GDA, said that the new openings are “perfectly in line with our commitment to expand our fleet on clean energy resources” and to “show the world that Bitcoin mining can be very ESG-friendly.”

Integrating into Local Communities

Ankit Joshi, the Head of North America, said that the local communities welcomed the company “warmly as an opportunity for their economy.”

On that note, GDA argued that its aim is to have its operations fully integrated into regional communities through work with local suppliers and contractors.

For the Anderson facility, it said, the team used North American-built infrastructure equipment and reutilized an abandoned textile warehouse.

Also, 83% of the workers for the other two centers were hired locally.

“Thanks to the launch of these data centers in South Carolina, almost 150 jobs were created—125 of which were local contractors that helped set up the facilities.”

Since 2013, GDA has built over 20 industrial-scale mining farms across North America, Europe, and Central Asia, boasting a total power capacity of over 400 MW.

It has brought more than 300,000 miners online, it said.

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