Cleanspark, a bitcoin miner, has announced that it is expanding operations in Texas with up to 500 megawatts (MW) of renewable energy. The company has agreed to buy 200 megawatts of renewable energy from Houston-based Lancium, with the option to buy another 300 megawatts in the future.
Cleanspark Announces Plans to Expand to Texas, Forming a Partnership With Lancium, a Texas Energy Firm
After working with the Texas energy firm Lancium, the Nevada-based Cleanspark unveiled intentions to add up to 500 MW of renewable power to fuel its bitcoin mining operations on Thursday. According to the release, Cleanspark would get an initial 200 MW from Lancium’s data centres in West Texas, with the option to purchase an additional 300 MW from Lancium in the future.
Cleanspark estimates 50 MW of bitcoin mining to be operational by the end of the year, with the full 150 MW coming online by spring 2023. Cleanspark will add an estimated 16.0 EH/s to its current predicted hashrate of 4.0 EH/s after fully utilising this capacity with the latest generation of bitcoin mining rigs, according to the company’s release.
In a statement, Michael McNamara, the CEO and co-founder of Lancium, said, “Our Clean Campuses present a unique solution that will supply both green and low-cost power for clients that are interruptible and demand huge amounts of power.” “In addition to the benefits to clients like Cleanspark, we believe that the magnitude of our renewable-energy-powered Clean Campuses, when paired with Lancium Smart Response technology, provides further benefits in terms of improved power grid stability and renewable energy development.”
Concerns concerning bitcoin’s environmental impact have developed dramatically in the recent year due to environmental, social, and governance (ESG) requirements. Recently, bureaucrats, corporations, and people have made much of bitcoin’s environmental, social, and governance (ESG) friendliness. The White House and the Office of Science and Technology Policy, for example, are presently seeking public input on ESG issues and environmental concerns associated with crypto assets.
According to Cleanspark, the company has 22,000 bitcoin mining rigs dedicated to SHA256 hashrate as of February 28. A further 20,000 Bitmain S19 devices are on the way from the company.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
