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Genesis Digital Assets Limited (GDA) is expanding its bitcoin (BTC) mining operations in West Texas with a 50-megawatt (MW) energization increase across its Pyote and Vernon sites.
GDA is a private company with offices in the United Arab Emirates and the United States, with a total power capacity of over 600 MW. While the company refused to disclose its total hashrate, GDA Executive President Abdumalik Mirakhmedov claimed it to be “one of the largest bitcoin mining companies in the world in terms of this metric.”
For comparison, Bitdeer (BTDR) one of the biggest public bitcoin mining companies in terms of infrastructure, has almost 900 MW worth of capacity, while heavyweights MARA Holdings (MARA) and Riot Platforms (RIOT) have more than 1 gigawatt (GW) each.
GDA's new deployment includes two 20 MW buildings at the Pyote site, bringing it to 195 MW, and a 10 MW container setup at the Vernon site, bringing it to 70 MW. The Pyote site can be expanded up to 370 MW, according to GDA’s website.
The bitcoin mining firm will be taking advantage of Texas’ demand-response program, meaning that the mining operation will turn off its rigs during peaks in electricity demand, and be compensated for it.
GDA operates 20 data centers across multiple jurisdictions, including Texas, South Carolina, Sweden and Argentina. A number of these centers rely on green energy, including wind, hydro, nuclear and flared gas.
“Bitcoin mining is GDA’s core business. The company is currently exploring synergies with other emergent industries, including AI, to enhance and expand its mining operations,” Mirakhmedov told CoinDesk.
