Bitcoin (BTC) mining company makes massive investment in new miners

Genesis Digital Assets (GDA), a large bitcoin (BTC) mining company, has just ordered new mining equipment from manufacturer Canaan for a whopping $ 93.63 million or 77.36 million euros.

GDA has ordered the latest model from Canaan; the AvalonMiner A1246. The device can handle as many as 90 terahashes per second (TH / s). With this, GDA almost doubles its output, which is currently at 140 megawatts (MW), by 117 MW.

“As of April 2021, our data center capacity has exceeded 140 megawatts, which translates into a total hashrate of more than 2.0 exahashes (EH / s). That is more than 1.2% of the global Bitcoin mining hashrate. We are on track to bring an additional 5.5 EH / s online over the next 12 months. ”

The company said in a recent press release. Genesis Digital Assets is part of Genesis Mining and was founded this week. However, it is unclear when these new devices will actually be shipped, as there is currently a huge global shortage of computer chips.

“No one in the world can mine at scale as profitably as we can, and we look forward to scaling GDA in the coming months and years. Our mission is to provide the infrastructure that enables the revolution of the open-source monetary system. ”

Said Abdumalik Mirakhmedov, CEO and co-founder of GDA. Recently, an investigation by Square, the payment company of Twitter CEO Jack Dorsey, reported that bitcoin mining is nowhere near as harmful to the environment as claimed, and actually encourages the use of green energy. Tesla CEO Elon Musk agreed, but that was far from the case for everyone.

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