Genesis Digital Assets, a privately held industrial-scale bitcoin miner, plans to start a new self-hosted bitcoin mining data center in Sweden, which is expected to have up to 100 megawatts of power capacity.
- The facility will be on line by 2024 and will be powered by 100% clean energy sources, the miner said in a statement on Thursday.
- The energy mix at the facility in Sweden will be 54.5% hydro, 42.8% nuclear and 2.7% wind powered, a company spokesperson told CoinDesk.
- “This latest expansion aligns with GDA's focus to identify ways to power our facilities with clean energy while also creating jobs for the local economy,” said Tim Liepold, head of power at Genesis Digital Assets.
- In November, Genesis said that it is building a new self-hosted bitcoin mining data center in West Texas with 300 megawatt of capacity.
- Genesis Digital Assets is different from Genesis, the crypto lending firm owned by CoinDesk parent company Digital Currency Group.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.