• GDA, a global mining and data center company, has opened a new hydro-powered Bitcoin mining data center in Sweden.
• This data center is located close to the Porjus Hydroelectric Power Station and has 1,900 Bitcoin mining machines deployed with a hash rate of 155 petahashes per second.
• Sweden produces almost all of its electricity from nuclear and hydropower, particularly in the north, making it an ideal location for renewable energy Bitcoin mining operations.
GDA Opens New Hydro-Powered Data Center in Sweden
Genesis Digital Assets Limited (GDA), a mining and data center company with over 400 megawatts (MW) of power generation worldwide, has opened a new hydro-powered Bitcoin (BTC) mining data center in Sweden. The total capacity of the data center is approximately 8 MW and is expected to result in a hash rate of approximately 155 petahashes per second.
Location Close to Porjus Hydroelectric Power Station
The new operation is located near the Porjus Hydroelectric Power Station with 1,900 Bitcoin mining machines deployed. Abdumalik Mirakhmedov, founder and executive president of GDA noted that due to proximity to the hydroelectric power station they expect all electricity consumption to be powered by renewable energy.
Renewable Energy Abundant in Northern Europe
Christian Anders, founder of BT.CX — a Swedish Bitcoin exchange dating back to January 2012 — told Cointelegraph that Bitcoin mining is not very common due to high energy prices but noted that the Nordics have a surplus of energy and negative energy prices from time to time which make them ideal locations for renewable energy Bitcoin mining operations.
Sweden Produces Electricity From Nuclear & Hydropower
Sweden produces almost all its electricity from nuclear and hydropower sources which explains why it’s an attractive destination for renewable energy powered Bitcoin Mining operations as reported by Jaran Mellerud, business developer at Luxor Mining and frequent contributor at Cointelegraph who hails from nearby Norway.
Stranded & Renewable Energy Popular With Miners
GDA explained that they consider clean energy sources an important factor when choosing where to operate their facilities since stranded or renewable energy are usually cheapest options available for miners.