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Peak Mining purchases 300MW mining data center site in Texas

Peak Mining purchases 300MW mining data center site in Texas

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The Northern Data Group company and global Bitcoin miner confirms the first phase of the buildout is underway at the Corpus Christi site.

Peak Mining, a Northern Data Group company and global Bitcoin miner, has announced the purchase of a 33-acre, 300MW mining data center site in Corpus Christi, Texas.

This investment represents a significant step forward in Northern Data Group’s investment strategy – Driving a substantial increase in Peak Mining’s hash rate and BTC production.

The first phase of the buildout is underway and will deliver 100MW of mining capacity which will ramp up from Q1 2024.

Saxet Infrastructure Group has been managing the pre-development of the site to date and will act as construction manager to oversee the build.

Saxet has a strong track record of project management and deep expertise with the construction of (renewable) energy infrastructure.

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 30MW facility in Grand Forks, North Dakota, expected to be operational in Q1 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, Northern Data Group’s Chief Executive Officer, said: “Across all Northern Data Group companies, we are committed to identifying sustainable value accretive assets. This site in Texas meets these requirements with substantial opportunities for expansion in the near future.

“This marks a landmark investment for Peak Mining as it scales its Bitcoin mining capabilities, further strengthening the Group’s overall position within the global High Performance Computing market.”

Steven Quisenberry, Chief Executive Officer at Saxet Infrastructure Group, said: “The combination of base load industrial demand and significant renewable resources creates a unique opportunity for Northern Data’s portfolio. This is a terrific example of one of the largest, most advanced liquid-cooled data centers in North America and we are proud to partner with Northern Data to bring their data center online.”

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