GDA to Highlight Bitcoin Mining as a New Catalyst for Clean Energy Innovation at Web Summit Qatar
Published: 20 Feb 2025 – 10:55 am | Last Updated: 20 Feb 2025 – 11:06 am
Abdumalik Mirakhmedov, Co-Founder and Executive President of GDA
Doha, Qatar: Genesis Digital Assets (GDA), a leading bitcoin mining company renowned for its hash rate, will emphasize the industry’s pivotal role in promoting clean energy and innovation at the upcoming Web Summit Qatar. The event is scheduled for next week.
Abdumalik Mirakhmedov, GDA’s Co-Founder and Executive President, will present on various sustainable practices in bitcoin mining that are reshaping both the industry and the future of finance. His talk will cover topics such as flared gas utilization, hydropower, heat repurposing, and grid stabilization. Mirakhmedov is set to speak from the summit’s new energy stage on Wednesday afternoon, 26th February.
He stated, “Bitcoin mining is already making a significant impact by stabilizing power grids and fostering the growth of renewable energy worldwide. It has led to innovative solutions in waste heat utilization, job creation, and the reduction of methane emissions. With ongoing support from jurisdictions globally, we will continue to explore new technologies and approaches to create a greener future and discover the next major breakthrough.”
Mirakhmedov highlighted that bitcoin mining encourages investments in green energy due to its flexible demand for substantial electricity. This demand can make renewable energy projects more financially viable. Additionally, by utilizing excess renewable energy that would otherwise be wasted, bitcoin miners contribute to the stabilization of these energy sources and facilitate the development of clean energy infrastructure.
GDA’s first data center in South America, which opened last year in Rincón de Los Sauces, Argentina, illustrates how bitcoin mining companies partner with energy producers to benefit the environment. This state-of-the-art facility significantly lowers emissions by generating energy from stranded gas that a local power company would otherwise flare into the atmosphere. As a result, the power company can offset its emissions costs, potentially decreasing oil prices in the region.
Furthermore, five of GDA’s eleven data centers in the United States are located in Texas, demonstrating how bitcoin mining can stabilize power grids by acting as a flexible energy consumer.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/gda-highlights-bitcoin-minings-role-in-clean-energy-innovation-at-web-summit-qatar/
