Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

Core Scientific, the blockchain hosting and digital asset mining company, is building a new 300- megawatt (MW) blockchain data center in Denton, Texas.

  • The company is building the data center using “emissions-free power supplemented by renewable energy credits.”
  • “When completed, the new Denton data center will increase the company’s total power capacity to more than 800MW while remaining 100% net carbon-neutral,” the company said in a statement on Thursday.
  • The expansion is a part of a development collaboration with privately held Tenaska Energy, which will provide development and power management services for the facility and serve as energy advisor.
  • Core is planning to go public via a special purpose acquisition company (SPAC) with Power & Digital Infrastructure Acquisition Corp.
  • Recently, crypto mining firm Argo Blockchain said that it agreed to buy 20,000 mining machines for the data center it is building in West Texas. Argo said that by choosing the Texas location, it has been able to secure access to some of the “cheapest renewable energy worldwide.”

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

CoinDesk - Unknown

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets