Colorado (CO): Aspen Creek Digital commences operations despite challenging market

 Aspen Creek Digital Corp, a new company in the bitcoin space, has announced that it has opened a six-megawatt solar-powered facility in the western part of Colorado. This announcement comes despite the current crypto meltdown. The company has outlined that its mission is to "catalyze the decarbonization of power generation" by creating "the world's leading fleet of renewably powered HPCCs," which will initially focus on bitcoin mining.

According to the company, the data center will run S19 bitcoin mining machines and be co-located with a 75,000-square-foot research-and-development center and fulfillment facility. Alongside this, the company is also in the process of developing bitcoin mining sites across Texas, one of which, is a 30-MW data center, expected to be operational this summer, and capable of hosting 10,000 ASIC (application-specific integrated circuit) miners co-located behind-the-meter with an 87-MW solar farm. 

Alexandra DaCosta, CEO of Aspen Creek Digital Corporation, commented: "Recent market volatility has demonstrated the importance of our core strategy: controlling power as the principal input in bitcoin mining. ACDC was founded with a simple premise in mind, which is to create a sustainable source of renewable energy to power our operations and put renewables back on the grid. This design enables ACDC to withstand volatility in the bitcoin market and insulate our operations from power market fluctuations. The success of our first project is proof of our concept to substantially lower the cost of energy, the single largest input for bitcoin mining, and to do it sustainably."

DaCosta added: "Our talented team and partners, who bring financial integrity and proven renewable energy expertise, will dramatically improve the sustainability of the industry while building strong partnerships with local communities, delivering carbon transparency, and enhancing grid resiliency."

Speaking to Coindesk about entering the market while it's so volatile and why Galaxy Digital (GLXY) allocated some of Galaxy's own miners to be hosted at Aspen Creek's Colorado site, Amanda Fabiano, head of mining at Galaxy, told CoinDesk, said: "The best time to build is a bear market and people shouldn't be afraid of the market conditions, they just have to make sure that they're doing it appropriately and effectively."