Genesis Digital Assets reached 708 megawatts (MW) of capacity for Bitcoin mining in the first six months of 2022.
Bitcoin mining systems, as it is known, have an intense energy consumption. Especially with the increasing interest in Bitcoin, this intensity is increasing. Genesis Digital Assets, which makes mining for a company, announced that it used 708 megawatts of power in the first 6 months of 2022.
Genesis Digital Spreads Its Power To Texas
Saying in the press release that it used 708 MW of power in the first 6 months, Genesis Digital Assets transferred its power capacity to its facilities in West Texas as well as North and South Carolina.
The New York-based company has new facilities on target. However, he did not specify what stages of development his different facilities are in or when they would be ready to start operation. Bitcoin mining facilities can take months to complete.
Genesis, which raised $125 million in a round led by Kingsway Capital, raised $431 million in its second round to expand its operations in North America and Scandinavian countries. Before expanding its operations, Genesis is expected to deploy new power to facilities with 100MW in Sweden, 300MW in Texas and undisclosed capacity in South Carolina.
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