GDA adds 20th bitcoin mining site in global expansionfocused on renewable energy - Middle East News 247
July 16, 2024
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GDA adds 20th bitcoin mining site in global expansionfocused on renewable energy

GDA, one of the world’s leading bitcoin mining companies in terms of hash rate, today announced the latest phase of an expansion programme which places a major emphasis on the use of renewable energy in its global operations.

The company has entered into a strategic hosting arrangement for a sixth data centre in Texas, which extends GDA’s network to 20industrial-scale facilities across North America, Europe, and Central Asia.

The new agreement with Lonestar Dream, Inc (“Lonestar Dream”) means that the company will have access to approximately 36 MW of total power capacity at the Tarbush data centre in West Texas.

In partnership with Lonestar Dream, GDA has added approximately 1 EH/s to its total hash rate capacity. Texas’ wealth of renewable energy and a flexible power grid has played a pivotal role in GDA’s strategic decision to further invest in capacity in the state.

Speaking from the company’s Dubai office today, Andrey Kim, CEO of GDA, said: “This hosting agreement is an important milestone for us as we continue expansion in the West Texas region.

“We believe that our commitment to renewable energy and utilization of some of the most advanced technology in the bitcoin mining industry empowers us to engage in efficient and reliable bitcoin mining operations.”

Abdumalik Mirakhmedov, Founder and Executive President of GDA, will be a keynote speaker at the World Blockchain Summit in Dubai later this month.

He commented: “We understand the importance of using renewable energy and are committed to continuing investing in clean energy sources and technologies that reduce our carbon footprint.”

The Tarbush data centre is situated within the ERCOT West Hub, a major hub for renewable energy production in Texas. According to ERCOT, as of January 2024, the total installed renewable capacity in Texas is 55GW and record renewable generation is 35GW.

The majority of the capacity is located in the ERCOT West Hub, which has an array of wind, solar, and other renewable energy sources, benefiting from nearby wind farms.

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