Bitcoin Miner Genesis Digital Assets Secured 708 MW in Capacity During the First Half of 2022

Bitcoin Miner Genesis Digital Assets Secured 708 MW in Capacity During the First Half of 2022

This week the bitcoin mining company Genesis Digital Assets announced that the firm has secured 708 megawatts (MW) in capacity and revealed plans to create 130 full-time jobs in the United States. The chief operating officer at Genesis, Andrey Kim, said the firm has been pleased with “the pace” of the bitcoin mining company’s U.S. expansion. Genesis Digital Assets U.S. Expansion Gathers 708 MW of Power

On Wednesday, Genesis Digital Assets revealed it has acquired 708 MW of capacity as the firm’s U.S. expansion continues. Presently, Genesis mines bitcoin in four locations in Texas, three locations in South Carolina, and one location in North Carolina. During the first half of 2022, Genesis secured the 708 MW from the Texas, South Carolina, and North Carolina regions.

The company said the expansion will create 130 full-time jobs and roughly 495 construction jobs for the local communities. “Every day, we are given a chance to create meaningful and lasting relationships by creating job opportunities for the local communities in which we operate,” Genesis’ global head of human resources Lydia Nyarko explained during the announcement on Wednesday. “Remaining intentional and impactful is incredibly important to GDA as we expand our candidate placement.” The Genesis Digital Assets executive added: Witnessing our organization grow has been incredibly fulfilling. Bitcoin mining offers access to an exciting career path with lots of potential to grow as the industry becomes larger and larger in the years ahead.

Bitcoin Mining Operations Continue to Expand Amid Volatile Bear Market

Before securing more wattage during the course of H1 2022, Genesis announced the development of new mining centers, and the bitcoin mining firm acquired thousands of bitcoin miners from Canaan last year. As far as 2022’s American expansion is concerned, Genesis COO Andrey Kim said the mining firm is satisfied with the speed of U.S growth. Like many other bitcoin mining operations this year, Kim noted that the crypto market is still eruptive.

“We’re very pleased with the pace of our U.S. expansion,” the Genesis COO said in a statement on Wednesday. “Our team has worked incredibly hard to scale our capacity and while the market remains volatile, we remain more committed than ever to executing on our mission to provide the infrastructure that powers the Bitcoin network,” Kim added.

In addition to Genesis, a number of other bitcoin mining companies have been expanding and purchasing mining rigs during the downturn. The bitcoin miner Cleanspark announced earlier this week that it acquired a plug-in-ready facility with 86 MW of capacity, and last month it obtained thousands of miners at discounted prices. The firm Cipher Mining completed a 40 MW facility in Alborz, Texas, and miner Kryptovault AS announced moving operations north of the Arctic Circle in order to get cheaper electricity rates. Tags in this story Andrey Kim, ASIC, ASIC miners, ASICs, Bitcoin Miners, Bitcoin Mining Rigs, Bitcoin network, BTC miners, Canaan, cipher mining, Cleanspark, expansion, Follow-on Contract, genesis, Genesis COO, Genesis Digital Assets, Kryptovault AS, Lydia Nyarko, SHA256 miners, US Expansion, wirex us expansion

What do you think about Genesis Digital Assets revealing it has secured 708 MW of capacity for bitcoin mining operations? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Kazakhstan Investigates Crypto Mining Hotel Allegedly Operating as Ponzi Scheme MINING | 2 days ago Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity MINING | 2 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleCrypto Exchange Hotbit Suspends Service After Law Enforcement Freezes Its Funds, Subpoenas Senior Managers Next articlePicpay Rolls Out Crypto Trading Options to More Than 30 Million Users in Brazil Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItArgentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments

The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, ... read more.UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin