Genesis Digital Assets Limited (GDA) has announced an increase in mining capacity by 50 MW at its Pyote and Vernon sites in West Texas, USA. In doing so, the company claims to strengthen its leadership in the bitcoin mining industry. "Bitcoin mining has a real impact on energy markets," noted GDA's financial director Taker Haifield.
Haifield emphasized that bitcoin mining contributes to innovation through integration with renewable energy sources, optimizing the work of energy systems, and reusing energy waste. "Bitcoin miners act as flexible energy consumers - they reduce electricity use during low demand periods and ramp up when energy is needed elsewhere," he explained.
According to Haifield, bitcoin mining helps ensure the stability of the energy supply network, especially in conditions of intermittency of renewable energy. Texas plays a key role due to its favorable regulatory environment, energy infrastructure, and access to renewable energy sources. Currently, the USA is a leader in bitcoin mining, accounting for 36% of the total hash rate of the network.
He also pointed out that the bitcoin industry has become increasingly efficient, being one of the most flexible and resilient energy consumers. Every day, mining becomes more sustainable and effective. "Last year's hash rate growth was 52%," added Haifield.
"Bitcoin mining not only uses energy; it actually contributes to the processing of projects with green energy usage. About 60% of bitcoin mining already operates on clean energy, including hydro, solar, wind, and nuclear," emphasized Haifield.
Thus, the deployment of new capacity at Perov and Vernon speaks to GDA's strategic commitment to ensure that the United States maintains a leading role in the global bitcoin mining sector over the long term. "The company uses equipment from the next generation for mining and improves infrastructure to increase efficiency without increasing physical equipment," stated Haifield.
