Genesis Digital Assets, a blockchain technology firm has announced a major expansion of its Bitcoin mining operations in Sweden. The expansion is expected to increase the company’s Bitcoin mining capacity, giving them an edge in the ever-evolving and competitive blockchain mining industry. The move comes as Bitcoin and other cryptocurrencies continue to surge in popularity.
1. Genesis Digital Assets Increases Bitcoin Mining Capability in Sweden
Genesis Digital Assets has recently announced an increase of their Bitcoin mining capability in Sweden. The move is a strong indication of the company’s commitment to offering a robust mining infrastructure to its large customer base. Genesis will deploy some of the latest generation mining rigs, built using the most advanced technology.
The fleet of mining rigs will be hosted in secure and powered facilities located in various parts of Sweden. This will enable clients to enjoy the benefits from energy efficient solutions and also provide local supporters of the Bitcoin ecosystem with the opportunity to increase their investments with Genesis.
The new mining rigs benefit from features including:
- High-Performance Hardware: The latest generation of mining rigs are designed and built with high-performance hardware to maximize operational efficiency.
- Efficient Power Supply: Customized power supply systems are used to ensure that optimum power is supplied to each individual mining rig.
- Custom Security Setup: A custom security setup is deployed to monitor the entire mining operation to make sure it is always running at the highest level of security.
The increased mining capability in Sweden is part of Genesis Digital Assets’ mission to become the leading provider of Bitcoin mining solutions worldwide. With the deployment of this latest generation mining rigs, the company is well on their way to achieving that goal.
2. Genesis’s Focus on Sustainable Mining Practices
Genesis Mining is a leading cryptocurrency mining firm that is constantly innovating to reduce its environmental footprint. Through the use of sustainable energy sources, efficient operations, and programs to reduce emissions, Genesis Mining seeks to become a model for sustainable mining in the industry.
Investment in Renewable Energy
In 2020, Genesis Mining announced a long-term commitment to reduce their carbon footprint by powering their operations primarily with renewable energy sources such as hydropower and solar. This commitment came with the launch of a new business venture called Green Genesis, which is devoted to developing renewable energy sources for powering Genesis Mining’s network of servers. The company has since gone on to invest heavily in renewables, such as investing in hydro-powered server farms in Iceland and installing solar panels in the United States.
Efficient Operations
The company also seeks to reduce its environmental footprint by investing in more efficient operations. They have reduced electricity consumption and increased server efficiency by relocating old servers to new energy-efficient facilities and investing in data centers that have cooling systems with higher levels of efficiency. Additionally, Genesis Mining has also worked to make its operations more efficient, investing in more powerful miners and data centers.
Programs for Reducing Emissions
In addition to making investments in renewable energy and efficient operations, Genesis Mining also runs programs designed to reduce their environmental footprint. This includes the “More Trees” initiative, which is a global reforestation program committed to planting trees in countries around the world. The company also promotes the use of eco-friendly materials for packaging, along with efforts to reduce water usage and to recycle and reuse materials used in mining.
3. Sweden: An Ideal Location for Energy-Efficient Crypto Mining
Crypto mining continues to be an attractive opportunity for investors in the digital stakeholder economy. With its plentiful, affordable and renewable reserves of energy, Sweden is fast becoming a desirable destination for those looking for robust energy solutions in their mining operations.
With its connected and reliable energy grid and affordable electricity, Sweden is well-known for its extremely efficient and reliable energy infrastructure. In addition, the country has various incentive programs in place to encourage miners to use renewable energy sources in their operations. As a result, crypto miners benefit from competitive reduced pricing on their electricity bills — without compromising on the quality or reliability of their energy.
From a tax plan perspective, Sweden offers crypto miners up to a 15% tax rebate on their energy and power costs. This additional cost saving makes Sweden an even more attractive proposition to crypto miners in Europe. In addition, Sweden has excellent internet speeds which help to optimize operational performance and increase efficiency of crypto mining.
- Reliable energy grid
- Incentive programs encourage renewable energy sources
- Up to 15% tax rebate on energy and power costs
- Excellent internet speeds
4. Genesis Set to Enhance Digital Assets in Sweden and Beyond
Genesis Global Trading (GGT), the over-the-counter digital asset broker, recently announced that it is expanding into Sweden. The move is the latest effort by Genesis to further expand its services across Europe.
The firm recently won a license from Sweden’s Financial Supervisory Authority (FSA) to operate its business. This license allows GGT to offer institutional and high-net-worth clients access to multiple digital asset trades such as bitcoin, Ether, and more.
In addition to the new Swedish license, GGT is expected to begin offering additional services in the future. These services will range from access to global liquidity sources, prime broker facilities, loan origination, and brokerage services. With GGT’s expanding services, clients will now have greater access to digital assets in Europe.
This move is the latest in GGT’s growing presence in the digital asset space, following its previous expansions into the United Kingdom, the United States, and Hong Kong. The firm has also been recognized by many financial services firms and organizations for its work and commitment to providing quality services.
Genesis Digital Assets’ increasing mining capacity in Sweden is the latest indication that the rapidly developing technology and application of blockchain, as well as digital assets around the world, are continuing to gain traction globally. The large-scale expansion of Genesis Digital Assets into Sweden is a tremendous success, and provides a solid foundation for the continued growth of Bitcoin and other blockchain-based applications.