Aspen Creek Digital Corporation (ACDC) Bitcoin Miner Has Launched New Operations

New Solar-Powered Bitcoin Miner Launches Operations

  • At its brand-new data centre in western Colorado, Aspen Creek Digital will also host miners from Galaxy Digital.

A new bitcoin miner has begun operating at a 6 MW solar-powered facility in western Colorado, despite the present weak market for cryptocurrencies.

The mining operation of Aspen Creek Digital Corporation (ACDC), which was established in January of this year, is situated next to a 10MW solar farm. According to a statement provided to CoinDesk, the company intends to begin with bitcoin mining at its data centre and eventually provide computing services to other companies.

The S19 bitcoin mining rigs will be housed in the Colorado data centre, which will also house a 75,000 square foot R&D and fulfilment centre. For ACDC's future computing infrastructure, the facility will act as a centralised centre for testing, maintenance, storage, and training.

The new miner enters the market as existing miners struggle to remain viable due to the decrease in cryptocurrency prices, hash rates near all-time highs, a constricting capital market, increasing power costs, and supply chain concerns.

However, according to CEO Alexandra DaCosta, ACDC was able to generate enough money in advance to buy the necessary transformers and switch gear for 240MW of capacity.

"We wanted to be sure we had the right infrastructure available to complete our first step. So now we actually have enough for our projects, she told CoinDesk.

'POWER FIRST'

Galaxy Digital (GLXY), a financial services company with a focus on cryptocurrencies, assigned some of its own miners to be hosted in ACDC's Colorado facility after being sufficiently satisfied by the miner's management team and "power first" philosophy.

“The best time to build is a bear market and people shouldn't be afraid of the market conditions, they just have to make sure that they're doing it appropriately and effectively,” Amanda Fabiano, Head of Mining at Galaxy told CoinDesk.

According to Fabiano, many miners first try to raise money before looking for operating locations and power sources. ACDC, on the other hand, reversed this strategy by figuring out the power and infrastructure first. Fabiano continued, "She [DaCosta] took the mining problem and turned it on its head and looked at it from a different angle, which is extremely amazing.

ACDC is also creating bitcoin mining facilities in Texas in addition to the Colorado data centre. Its second project is a 30MW data centre with 10,000 ASIC miners that are co-located behind the meter with an 87MW solar farm and is expected to be operational this summer. A 150 MW data centre that is also positioned behind the metre beside a 200 MW solar farm makes up a third project.

While the miner's activities will be run entirely on solar power, they will still be wired into the grid so that they have the option of sending power back to it. DaCosta responded that her company had already successfully completed the procedural requirements for its second site and is currently carrying out the necessary work for its third site in response to questions regarding the Electric Reliability Council of Texas's (ERCOT) most recent requirement that new large-scale miners obtain permission before connecting to the grid.

ACDC claimed that with the assistance of its partners that have knowledge of developing renewable energy power infrastructure, it was able to identify the power sources. The creators of renewable energy are stockholders in the firm as well as founder members of the miner.

The decision to use solar energy as a power source comes as more miners explore using renewable energy sources for their operations as politicians examine miners' energy consumption throughout the world. Most recently, it was announced by Blockstream and Block (SQ), which are owned by Adam Back and Jack Dorsey, that they are constructing a test crypto mine in Texas that will be powered by batteries and a Tesla (TSLA) solar array.

Source: CoinDesk

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