Northern Data Group and global Bitcoin miner confirms that the first structure is up and running at the Corpus Christi site.
Peak Mining, a Northern Data Group company and a global Bitcoin miner, has announced the acquisition of a 33-acre, 300 MW mining data center in Corpus Christi, Texas.
This investment represents a significant milestone in Northern Data Group’s investment strategy, resulting in a really extensive increase in Peak Mining’s hash rate and BTC production.
The first phase of the structure is underway and will supply one hundred MW of mining capacity that will be accumulated from the first quarter of 2024.
The Saxet Infrastructure group has so far controlled the preliminary development of the structure and will act as the structure’s administrator to oversee it.
Saxet has experience in allocation control and in-depth experience in the structure of energy (renewable) infrastructures.
The site benefits from access the low-cost power at the Load Zone South of the ERCOT real-time energy market delivering high mining profitability.
The site also includes a private substation and strengthens Peak Mining’s diversified portfolio of locations across the US, Canada and Europe.
Peak Mining has already secured an option for an additional $150m of MicroBT mining hardware, which is earmarked for the further expansion of this location to its full 300MW potential.
Peak Mining already has a 30 MW facility in Grand Forks, North Dakota, which will be operational in the first quarter of 2024.
These two projects alone, will ensure that Peak Mining delivers its planned increase to over 7 EH next year with both sites benefiting from much more efficient hardware, in preparation for the upcoming halving.
Niek Beudeker, Managing Director, Peak Mining, said: “We are excited to acquire this location, which offers a rare opportunity to quickly and substantively expand our mining capacity, ahead of next year’s halving. ERCOT remains one of the most attractive power markets for mining, providing low-cost power from largely renewable sources and the ability to actively participate in demand response programs.”
Aroosh Thillainathan, Chief Executive Officer of Northern Data Group, said: “Across all Northern Data Group companies, we are committed to identifying sustainable assets that create value. This Texas location meets those needs with significant expansion opportunities in the near future.
“This is a landmark investment for Peak Mining, which expands its Bitcoin mining capabilities, strengthening the Group’s overall position in the high-performance computing market. “
Steven Quisenberry, Chief Executive Officer of Saxet Infrastructure Group, said: “The combination of core commercial demand and significant renewable resources creates an opportunity for Northern Data’s portfolio. This is a prime example of one of the largest and most complex liquid-cooled data centers in North America and we’re proud to partner with Northern Data to bring their data center online Array.