- The location expands on an adjacent 300MW site, purchased in
December 2023
- The site comes with an ERCOT-approved interconnect of
300MW
- Construction already underway, with long-lead
time items secured and energization scheduled for early
2025
FRANKFURT,
May 24,
2024 /PRNewswire/ -- Peak Mining, part of the
Northern Data Group, announces the purchase of a second 300MW
ERCOT-approved site in Corpus Christi,
Texas. The location is adjacent to the 300MW mining facility
that is already under construction. The site also provides energy
in the attractive low-cost power zone of Load Zone South of the
ERCOT grid, known for its abundance of renewable (wind) energy.
The investment represents a significant step
forward in Northern Data Group's investment strategy, cementing
expansion plans well beyond the current 2024 financial year.
The new site enables Peak Mining to accelerate
its expansion plans to become one of the largest bitcoin miners
globally. The company will be deploying indoor, custom-designed,
fully-integrated and liquid-cooled HPC data center systems to
drastically improve deployment time and infrastructure cost,
bringing Peak Mining to a leading position in the industry and
preparing it for the future of HPC compute.
Saxet Infrastructure Group ("Saxet") will act as
construction manager for the design, build and energization of the
substation. The Saxet team brings a strong track record
of project management and deep expertise with the construction
of HPC infrastructure.
Niek Beudeker,
Managing Director, Peak Mining, commented:
"The
purchase of this second large site will significantly shorten our
time to hashing and kick off one of the fastest mining expansions
globally. We now have almost 700MW of sites in active development,
that when fully fitted with our latest-generation hardware, could
potentially provide up to 40EH of hash rate."
Aroosh Thillainathan, Northern Data Group's Chief Executive
Officer, commented:
"This second data center location
demonstrates how Northern Data Group is able to harness the power
and opportunity of HPC. Sustainability has been at the core of this
further expansion into the US and thanks to the center's ERCOT
approved status, we will be able to scale our operations at speed,
as the demand for digital assets continues to grow."
Steven Quisenberry, Chief Executive
Officer at Saxet Infrastructure
Group, commented:
We are excited to
support Northern Data Group's expansion in the
ERCOT market and specifically to welcome them to the Corpus Christi area. The combination of base
load industrial demand and significant renewable resources creates
a unique opportunity for their 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 Group to bring their data center
online.
Northern Data
Group was advised on the transaction
by Katten Muchin Rosenman LLP (Legal Counsel)
and BitOoda Technologies LLC.
About Peak Mining
Peak Mining, part of the Northern
Data Group, is powering the future of the blockchain network.
We deliver industry-leading operating and energy efficiency in
bitcoin mining through the latest hardware alongside innovative
technology and infrastructure. With our mining heritage dating back
to 2013, we've been innovating for over a decade and have been at
the forefront of the industry ever since. Our high-quality
infrastructure is purpose-built to power the mining network, and
we're driven to continuously find new efficiencies driving value
for our investors. We're delivering long term value in more
responsible ways.
About Northern Data Group
Northern Data Group (ETR:
NB2) is a leading provider of High Performance Computing (HPC)
solutions to businesses and research institutions, utilizing GPU-
and ASIC-based solutions. Our flexible compute power fuels
innovation in our three core business divisons: Taiga Cloud, Ardent Data Centers, and Peak
Mining. Through our HPC solutions, we pioneer ambitious computing
innovation that drives progress in the AI, ML and Generative AI
industries. Our close collaboration with industry-leading
manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to
the acceleration of innovation across sectors including life
sciences, financial services, and energy.
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