GDA Expands its Bitcoin Mining Capacity in Nordics with New Facility

Houston, TX 8/21/2023 – Genesis Digital Assets Limited (“GDA”), one of the world’s largest bitcoin mining companies in terms of hash rate, has announced its continuous expansion of mining capacity in Sweden.

The new facility is based in the Northern part of the country, where GDA expects to utilize sustainable energy sources, and has been operational since June of 2023. The total capacity of the data center is currently at 8 MW, with plans to upgrade the site further in the near future.

The new facility is located near the 417 MW Porjus Hydroelectric Power Station, which supplies entirely carbon-free electricity. Because of its proximity to the Porjus Hydroelectric Power Station, GDA is expected to consume environmentally friendly energy supplied by an energy company operating in the region.

“Our expansion of facilities in the Nordics is a testament to our unwavering commitment to utilizing green energy sources,” said Abdumalik Mirakhmedov, the Executive President and Co-Founder of GDA. “We aim to lead the bitcoin mining industry by setting an example for other players by minimizing our environmental impact.”

As part of GDA’s commitment to fostering strong relationships with local suppliers and contractors, GDA collaborated with a local company to help manage its operations of the new facility. The new facility was previously used as a traditional data center and is GDA’s third facility opened in Sweden in the last three years, including a greenhouse data center pilot launched in 2020.

Tim Carra, the Head of Nordic of GDA added that “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.”