Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Bitcoin miner Cleanspark has revealed the company is expanding operations in Texas with up to 500 megawatts (MW) of renewable power. The firm has inked a deal with the Houston-based Lancium to initially secure 200 MW of Lancium’s renewable power and has the option to obtain 300 MW more going forward.
Cleanspark Reveals Plans to Expand to the Lone Star State, Firm Partners With Texas Energy Firm Lancium
On Thursday, the Nevada-based Cleanspark revealed plans to add up to 500 MW of renewable power to fuel its bitcoin mining operations after partnering with the Texas energy firm Lancium. The announcement’s details explain that Cleanspark will obtain an initial 200 MW from Lancium’s data centers in West Texas and in the future, Cleanspark has the option to acquire 300 MW more from Lancium.
Cleanspark expects 50 MW of bitcoin mining will be operational by the year’s end and by spring 2023, it expects the remaining 150 MW to come online. “After completely using this capacity with the latest generation of bitcoin mining machines, Cleanspark will add an estimated 16.0 EH/s to its current forecasted hashrate of 4.0 EH/s — strengthening its position as one of the top bitcoin miners in North America,” the company’s announcement discloses.
“Our Clean Campuses provide a unique solution that will provide both green and low-cost power for customers that are interruptible and use large amounts of power,” Michael McNamara the CEO and co-founder of Lancium said in a statement. “Beyond the benefits to clients like Cleanspark, we believe the size of our renewably-powered Clean Campuses, when combined with Lancium Smart Response technology, provide additional benefits in terms of enhanced power grid stability and the further development of renewable energy.”
During the last year, concerns about environmental, social, and governance (ESG) criteria in regard to bitcoin’s environmental impact have grown significantly. In recent times, bureaucrats, corporate entities, and individuals have made a big deal about bitcoin being ESG friendly. For instance, the White House and the Office of Science and Technology Policy are currently seeking commentary from the public in regard to ESG issues and environmental concerns tied to crypto assets.
Cleanspark notes that as of February 28, the operation has 22,000 bitcoin mining rigs dedicating SHA256 hashrate to the network. Additionally, the firm has another 20,000 Bitmain S19 devices pending delivery.
What do you think about Cleanspark’s partnership with the energy firm Lancium? Let us know what you think about this subject in the comments section below.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.