Genesis Locates Three New Mining Centers in South Carolina

On August 1, Genesis Digital Assets (GDA), a Bitcoin mining company, revealed it has initiated three new data centers in South Carolina, USA. The centers became operational in February and March.

These centers are situated in the state’s western region. The first one was established in Anderson, taking over an unused warehouse, with an 18-megawatt (MW) capacity. Subsequently, the following month saw the introduction of two more centers between Union and Lockhart towns, which jointly have a capacity of 15 MW. The opening of these facilities indicates GDA’s strategy to expand its footprint in the United States.

The North American head of GDA, Ankit Joshi, expressed satisfaction with the warm reception the company received from the local communities, viewing GDA as a promising addition to their economy. Despite being relatively small-scale in comparison to GDA’s 300 MW facility launched in Texas in 2021, the new additions still make a meaningful impact.

GDA affirmed its commitment to environmentally conscious operations, asserting that the facilities will operate on renewable energy. For instance, the Anderson data center will employ Hitachi dry-type distribution transformers and provide surplus power back to the grid when possible. CEO of GDA, Andrey Kim, stated: “Our objective is to lead the sector and demonstrate to the world that Bitcoin mining can align well with environmental, social and governance (ESG) standards.”

To date, GDA has constructed more than 20 Bitcoin mining centers across North America, Europe, and Central Asia, collectively boasting over 400 MW in capacity. The new centers are inaugurated amidst a rising Bitcoin hash rate, as anticipation builds for the expected halving on April 26, 2024. The Bitcoin mining difficulty has also surged by 51% this year, reaching an unprecedented high, while Bitcoin’s price has seen a significant increase of 78.88% within the same period.