Genesis Digital Assets (GDA) has inaugurated its new mining facility is facility is set to utilize stranded excess hydro energy to power its mine. This marks GDA’s third venture in the Swedish region, expanding its investment into the region.
Shifting the spotlight to the United States, Nodal Power recently secured $13 million in seed funding to execute on its plans to transform US landfills into Bitcoin mining energy hubs. The plan revolves around converting methane emissions from these waste sites into energy assets for its Bitcoin mining centers.
Both GDA’s projects in Sweden and Nodal Power’s initiatives in the US reflect a broader move to capitalize on underutilized energy assets and the potential to mesh profitability and waste reduction with reductions in greenhouse gas emissions.
GDA and Nodal Power provide further evidence that a large portion of the most interesting green tech R&D and emissions reductions are coming from (of all people) Bitcoin mining companies. This comes at a shock to many, since media outlets have for years tried to paint Bitcoin as the greatest polluter of our time.
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