Brussels, Europe Brief News –Considering the crypto bear market, a new bitcoin miner has begun processing at a 6 megawatt (MW) solar-powered plant in west Colorado. Aspen Creek Digital Corporation (ACDC) was founded in January of the current year, and its processing activity is housed in a 10MW solar farm.
The company aims to begin mining bitcoin at its network infrastructure and ultimately provide computer services to other firms. The Colorado data centre, which will be co-located with a 75,000square-foot R&D and fulfillment facility, will house S19 bitcoin mining equipment. The building will house ACDC’s future computer infrastructure’s development, management, preservation, and learning.
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The miner enters the sector at a moment where older miners are struggling to stay economical due to the decrease in crypto prices, hash rates approaching all-time highs, a tighter capital market, increasing power costs, and supply chain concerns.
As per CEO Alexandra DaCosta, ACDC could collect enough finance before time to obtain the requisite switch gears and converters for 240MW of capacity. “We wanted to ensure we had the right infrastructure to roll out our first phase. So, we now have more than that for our initiatives,” she explained.
Galaxy Digital (GLXY), a crypto-focused financial services corporation, was so satisfied with the miner’s management staff and “power first” attitude that some of Galaxy’s peers were assigned to be placed at ACDC’s Colorado location.
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“The optimum moment to build is in a down market,” Amanda Fabiano, Head of Mining at Galaxy, stated in an interview. According to Fabiano, many miners consider raising funds before looking for operational sites and power supplies. ACDC, on the other hand, did the reverse by focusing on electricity and infrastructure first.
“She [DaCosta] turned the mining problem on its head and looks at it from a different angle, which is incredibly exceptional,” Fabiano remarked. ACDC is establishing bitcoin mining locations throughout Texas and the Colorado data centre.
Its second project, a 30MW data centre ready to host 10,000 ASIC miners and co-located behind-the-meter with an 87MW solar farm, is open this summer. A third proposal is a 150MW data centre co-located behind the meter with a 200MW solar farm. Even though the miner’s activities will be fueled by solar energy, they will remain linked to the grid to supply electricity back to the grid.
When inquired regarding the Electric Reliability Council of Texas (ERCOT) recent stipulation for new large-scale miners to request approval before trying to connect to the grid, DaCosta stated that her company already had completed the necessary conditions successfully for its site currently and is actively working on the third site for the bitcoin miners.