2023-08-23 05:35:01
Genesis Digital Assets (GDA), one of the world’s largest bitcoin mining companies, announced that it recently inaugurated its new mining facility in Sweden. According to the announcement, the center’s current capacity is 8 megawatts, but further expansions are planned in the near future. The new facility is located in the northern part of the country, near the 417 MW Porjus hydropower plant. The company also decided on this location in order to take advantage of this renewable energy source, with which it can operate its bitcoin mining. “With abundant energy resources, an environment that supports innovation and a strong education system that results in a great innovative culture, we believe that Sweden is one of the best places on Earth to mine Bitcoin. That is why we expect further investments in this beautiful region.” said Tim Carra, GDA’s operations manager for this region. In order to ensure successful operation, GDA will work with a local company to oversee the day-to-day operations of the new plant. The facility, which once operated as a traditional data center, is already the company’s third investment in Sweden within three years. “The expansion of the Scandinavian facilities is proof of our unwavering commitment to the utilization of green energy sources. Our goal is to be a leader in bitcoin mining, setting an example for other players by minimizing our ecological footprint.” – said Abdumalik Mirakhmedov, executive chairman and co-founder of GDA. The expansion of GDA’s Northern European facilities is part of a wider trend in local bitcoin mining. The region’s surplus of renewable energy, especially hydropower, attracts such companies looking for cost-effective and sustainable sources of energy. The location of the company’s facility near a hydroelectric plant reinforces the miners’ commitment to sustainability to reduce their impact on the environment.
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