- Genesis Digital Assets set up a hydro-powered Bitcoin mining data center near Porjus Hydroelectric Power Station in Sweden, using abundant renewable energy.
- The data center has a capacity of 8 MW, housing around 1,900 Bitcoin mining machines, and is expected to produce a hash rate of about 155 petahashes per second.
Genesis Digital Assets Limited (GDA), a leading bitcoin mining and data center company with over 400 megawatts (MW) of global power generation, has opened a new data center in Sweden, fueled by the country’s growing renewable energy surplus.
The new facility is located strategically in northern Sweden, where hydroelectric power dominates the grid. According to Abdumalik Mirakhmedov, GDA’s co-founder and executive president, the new data center is near the Porjus Hydroelectric Power Station:
“Given the proximity to the hydroelectric power station, we expect all of our electricity consumption to be powered by renewable energy.”
The data center’s total capacity is approximately 8 MW, resulting in a hash rate of roughly 155 petahashes per second. According to GDA, the Porjus data center is home to 1,900 Bitcoin mining machines.
Jaran Mellerud, a business developer at Luxor Mining and a frequent contributor to Cointelegraph, says Sweden generates nearly all of its electricity from nuclear and hydropower, particularly in the north. He added that renewable energy is plentiful, stating,
“Sweden is an energy powerhouse, generating the fifth-most electricity per capita globally in 2021.”
The strategic growth of GDA is part of a larger trend in the Northern European Bitcoin mining landscape, according to Christian Anders, founder of BT.CX, a Swedish Bitcoin exchange, Bitcoin mining is not widespread due to high energy costs.
Untapped, stranded, and renewable energy are popular Bitcoin mining components because they are the cheapest. Mirakhmedov noted, “Sweden also has abundant clean energy sources, which is an important factor we consider in our operations.”
Tim Carra, Head of Nordic Operations at GDA, noted, “With abundant energy sources, a pro-innovation environment, and a strong educational system that results in a great culture of innovation, we believe that Sweden is one of the best countries in the world where to mine bitcoin and expect to further invest in this beautiful region moving forward.”
GDA has partnered with a local company to oversee the new facility’s day-to-day operations. The facility, previously a traditional data center, is GDA’s third venture in Sweden in three years, including a greenhouse data center pilot launched in 2020.
As stated by Abdumalik Mirakhmedov, “Our expansion of facilities in the Nordics is a testament to our unwavering commitment to utilizing green energy sources. We aim to lead the bitcoin mining industry by setting an example for other players by minimizing our environmental impact.”
