Latest news with #AbdumalikMirakhmedov
Cision Canada
13 hours ago
- Business
- Cision Canada
GDA Purchases 1,000 Advanced Auradine Miners to Expand Mining Capacity
Deployment of 1000 AT2880-277 miners at GDA's Glasscock County, Texas data center deepens its ties to the Lone Star State HOUSTON, June 23, 2025 /CNW/ -- Genesis Digital Assets Limited ("GDA"), one of the largest Bitcoin mining companies in the world in terms of hash rate, today announced it has entered a purchase agreement with Auradine, a Silicon Valley-based provider of blockchain and AI infrastructure solutions. As part of the agreement, GDA will acquire 1000 of Auradine's latest Teraflux™ AT2880-277 air-cooled miners to be installed at its 40 MW data center in Glasscock County, Texas. "GDA's strategic priority is to combine operational excellence with long-term sustainability," said Abdumalik Mirakhmedov, Executive President of GDA. "Auradine's advanced mining systems offer the performance and flexibility we need to compete globally while staying aligned with our focus on responsible energy use, innovation, and a commitment to supporting the grid." The AT2880-277 miner delivers up to 260 TH/s of hash rate with energy efficiency as low as 16 J/TH, offering GDA best-in-class performance and sustainability. Once operational, the new machines will also participate in ERCOT, Texas's demand response program, reinforcing GDA's growing role in improving power grid reliability during peak demand periods. "We are proud to partner with GDA, a company that exemplifies strategic leadership and operational discipline in the Bitcoin mining space," said Rajiv Khemani, CEO and co-founder of Auradine. "This collaboration underscores the importance of developing and deploying U.S.-based, energy-efficient mining infrastructure that secures the future of the Bitcoin Network and contributes to energy grid resilience." This deployment is part of GDA's broader U.S. expansion strategy, positioning Texas as a cornerstone of its operations due to its renewable energy assets, regulatory alignment with the industry, and innovation-friendly environment. About GDA GDA is one of the world's largest and most experienced industrial-scale Bitcoin mining companies, with a track record of building, managing, and scaling data center operations spanning nearly a decade. We champion innovation, responsible energy use, and investment in the communities where we operate globally, including the 20 data centers across North America, South America, Europe, and Central Asia. With a total power capacity of over 600 MW, the company has brought over 150,000 miners online and was named to Fast Company's 2024 list of the Next Big Things in Tech in the fintech and blockchain category and was the winner of the "ESG Solution of the Year Award" by the 2025 CleanTech Breakthrough Awards. At GDA, we are committed to supporting the infrastructure for the future of money by making the Bitcoin network more robust, resilient, and secure. About Auradine Auradine, Inc. is a leader in blockchain and AI infrastructure solutions. The company provides groundbreaking software, hardware, and cloud offerings to enable scalable, sustainable, and secure solutions. Founded in 2022 by a team of seasoned entrepreneurs and technologists, Auradine boasts deep expertise and a proven track record in semiconductors, SaaS, and systems. Auradine is committed to innovation and excellence and is headquartered in Silicon Valley, California.
Zawya
20 hours ago
- Business
- Zawya
UAE reinforcing its place as world-class startup hub with ecosystem built for success
Dubai, UAE: The UAE is reinforcing its position as one of the world's most attractive and secure destinations for startups, as fresh data and investor sentiment point to rising momentum across the regional entrepreneurial ecosystem. MENA startups raised a combined $289 million in May, a 25% increase from April, with a Wamda report showing that the UAE contributed $86.7 million across 14 deals. Coinciding with the announcement, the Dubai Future District Fund (DFDF) reported more than $1.65 billion in capital commitments last year, offering strategic backing to over 190 portfolio companies. UAE-based entrepreneur and tech investor Abdumalik Mirakhmedov says DFDF's influence is part of a wider, sustained effort by government authorities in the UAE that have created a dynamic, pro-business landscape appealing to both regional and international founders. 'The business environment here is phenomenal,' says Mirakhmedov, Director and co-founder of Scalo Technologies, the UAE tech venture company. 'The government has established a regulatory framework that is so comfortable, and allows startups to build with confidence. 'The country's appeal to entrepreneurs goes well beyond funding. Dubai and Abu Dhabi offer everything a startup needs to grow - access to capital, innovation infrastructure, talent, and a quality of life that's hard to beat.' Added Mirakhmedov: 'The UAE allows us communicate with more prospective partners as a global technology group focused on fast growing sectors of the digital economy.' 'Startups here have easy access to venture capital and angel investors. Accelerators, co-working spaces, and research centres help early-stage companies get off the ground, creating a fast-moving and supportive startup scene. 'Sectors like fintech, AI, mobility, and e-commerce have grown rapidly, thanks to policy reforms, long-term visas, and government-backed funds aimed at helping young companies scale.' Mirakhmedov points to both Dubai and Abu Dhabi offering the ideal setup for growth, with free zones built for tech firms, simple licensing, and no income tax all making it easier to launch and expand. 'There's also real respect here for people who succeed,' he says. 'Entrepreneurs feel welcome, and that's backed by a professional business culture and a strong sense of personal safety. As more global startups look for stable places to grow, the UAE stands out - not just for its tools and support, but for creating the right conditions to succeed.' For further press information please contact: Tony Lewis / Narayan Marar Total Communications Email: tony@ / narayan@
Mid East Info
21 hours ago
- Business
- Mid East Info
UAE reinforcing its place as world-class startup hub with ecosystem built for success - Middle East Business News and Information
Tech investor and entrepreneur Abdumalik Mirakhmedov hails sustained government drive to create dynamic, pro-business landscape for founders Dubai, UAE, 23rd June, 2025: The UAE is reinforcing its position as one of the world's most attractive and secure destinations for startups, as fresh data and investor sentiment point to rising momentum across the regional entrepreneurial ecosystem. MENA startups raised a combined $289 million in May, a 25% increase from April, with a Wamda report showing that the UAE contributed $86.7 million across 14 deals. Coinciding with the announcement, the Dubai Future District Fund (DFDF) reported more than $1.65 billion in capital commitments last year, offering strategic backing to over 190 portfolio companies. UAE-based entrepreneur and tech investor Abdumalik Mirakhmedov says DFDF's influence is part of a wider, sustained effort by government authorities in the UAE that have created a dynamic, pro-business landscape appealing to both regional and international founders. 'The business environment here is phenomenal,' says Mirakhmedov, Director and co-founder of Scalo Technologies, the UAE tech venture company. 'The government has established a regulatory framework that is so comfortable, and allows startups to build with confidence. 'The country's appeal to entrepreneurs goes well beyond funding. Dubai and Abu Dhabi offer everything a startup needs to grow – access to capital, innovation infrastructure, talent, and a quality of life that's hard to beat.' Added Mirakhmedov: 'The UAE allows us communicate with more prospective partners as a global technology group focused on fast growing sectors of the digital economy.' 'Startups here have easy access to venture capital and angel investors. Accelerators, co-working spaces, and research centres help early-stage companies get off the ground, creating a fast-moving and supportive startup scene. 'Sectors like fintech, AI, mobility, and e-commerce have grown rapidly, thanks to policy reforms, long-term visas, and government-backed funds aimed at helping young companies scale.' Mirakhmedov points to both Dubai and Abu Dhabi offering the ideal setup for growth, with free zones built for tech firms, simple licensing, and no income tax all making it easier to launch and expand. 'There's also real respect here for people who succeed,' he says. 'Entrepreneurs feel welcome, and that's backed by a professional business culture and a strong sense of personal safety. As more global startups look for stable places to grow, the UAE stands out – not just for its tools and support, but for creating the right conditions to succeed.' Ends
Mid East Info
19-02-2025
- Business
- Mid East Info
GDA to spotlight bitcoin mining as new driver for clean energy innovation at Web Summit Qatar - Middle East Business News and Information
Co-Founder Abdumalik Mirakhmedov says sustainable practices and advancements can shape industry's future, and the future of money Dubai, UAE, 19th February, 2025: Genesis Digital Assets ('GDA'), one of the world's leading bitcoin mining companies in terms of hash rate, will spotlight the industry's role as a key global driver for clean energy and innovation at Web Summit Qatar next week. From flared gas to hydropower, and heat repurposing to grid stabilization, Abdumalik Mirakhmedov, GDA's Co-Founder and Executive President, will deliver a presentation analysing how sustainable practices and advancements in bitcoin mining are shaping the future of the industry, and the future of money. Mirakhmedov, who will speak from the summit's new energy stage on Wednesday afternoon, 26th February, said: 'Bitcoin mining is already making a real impact by stabilizing power grids and driving the growth of renewable energy worldwide. 'It has contributed to innovative solutions in waste heat utilization, job creation, and reducing methane emissions. With ongoing support from jurisdictions around the world, we will continue to explore new technologies and approaches to build a greener future and find the next big breakthrough.' Mirakhmedov explains that bitcoin mining plays an important role in encouraging green energy investment, with its flexible demand for large amounts of electricity making renewable energy projects more profitable. In addition, by using excess renewable energy that would otherwise be wasted, bitcoin miners help stabilize these energy sources and expand the development of clean energy infrastructure. GDA's first data centre in South America, opened last year in Rincón de Los Sauces, Argentina, exemplifies how bitcoin mining companies work with energy producers to positively impact the environment. This cutting-edge facility significantly reduces emissions by generating energy from stranded gas that a local power company would otherwise burn off into the atmosphere. Meanwhile, the power company offsets its related emissions costs, which could potentially lower oil prices in the region. According to an MIT working paper, repurposing methane gas for bitcoin mining could reduce CO2 emissions by 25% to 63%. Five of GDA's 11 US data centres are located in Texas, which showcases how bitcoin mining stabilizes power grids by acting as a flexible energy consumer. Miners adjust their electricity use during peak demand, helping balance the grid and stabilize supply. They also buy excess power from renewable energy producers like solar and wind farms, making these projects more financially stable and encouraging further investment. 'This flexibility is especially beneficial in rural areas, where the bitcoin mining industry creates jobs, revitalises infrastructure, and strengthens local economies,' says Mirakhmedov. Currently, 50%-60% of the electricity used by bitcoin mining comes from sustainable sources, including nuclear. The modular and portable nature of bitcoin mining enables miners to set up operations anywhere, utilizing low-cost clean energy sources. This adaptability can help accelerate the adoption of renewable energy production over the coming years, in the process driving investment in renewable energy infrastructure, especially in remote areas disconnected from major power grids. GDA's commitment to sustainability is further exemplified in Sweden, where the company has redefined how the bitcoin mining industry repurposes the heat generating from data centres. Heat from a data centre in Norsjö warms a large garage, preventing ice and snow build-up on snow-clearing trucks that are vital to the town's infrastructure in temperatures as low as -25°C. Powered by renewable energy from a nearby hydroelectric plant, this facility demonstrates the community benefits of bitcoin mining by-products. In Boden, 200km away, GDA's greenhouse project uses the heat by-products of bitcoin mining to support sustainable agriculture, producing fresh vegetables year-round, including strawberries, kale, and tomatoes for students, preschool children, and municipal employees. About GDA GDA is one of the world's largest and most experienced industrial-scale bitcoin mining companies, with a track record of building, managing, and scaling data centre operations spanning nearly a decade. We champion innovation, responsible energy use, and investment in the communities where we operate globally, including the 20 data centers across North America, South America, Europe, and Central Asia. With a total power capacity of over 600 MW, the company has brought over 180,000 miners online. At GDA, we are committed to supporting the infrastructure for the future of money by making the bitcoin network more robust, resilient, and secure Ends
Zawya
19-02-2025
- Business
- Zawya
GDA to spotlight bitcoin mining as new driver for clean energy innovation at Web Summit Qatar
Dubai, UAE: Genesis Digital Assets ('GDA'), one of the world's leading bitcoin mining companies in terms of hash rate, will spotlight the industry's role as a key global driver for clean energy and innovation at Web Summit Qatar next week. From flared gas to hydropower, and heat repurposing to grid stabilization, Abdumalik Mirakhmedov, GDA's Co-Founder and Executive President, will deliver a presentation analysing how sustainable practices and advancements in bitcoin mining are shaping the future of the industry, and the future of money. Mirakhmedov, who will speak from the summit's new energy stage on Wednesday afternoon, 26th February, said: 'Bitcoin mining is already making a real impact by stabilizing power grids and driving the growth of renewable energy worldwide. 'It has contributed to innovative solutions in waste heat utilization, job creation, and reducing methane emissions. With ongoing support from jurisdictions around the world, we will continue to explore new technologies and approaches to build a greener future and find the next big breakthrough.' Mirakhmedov explains that bitcoin mining plays an important role in encouraging green energy investment, with its flexible demand for large amounts of electricity making renewable energy projects more profitable. In addition, by using excess renewable energy that would otherwise be wasted, bitcoin miners help stabilize these energy sources and expand the development of clean energy infrastructure. GDA's first data centre in South America, opened last year in Rincón de Los Sauces, Argentina, exemplifies how bitcoin mining companies work with energy producers to positively impact the environment. This cutting-edge facility significantly reduces emissions by generating energy from stranded gas that a local power company would otherwise burn off into the atmosphere. Meanwhile, the power company offsets its related emissions costs, which could potentially lower oil prices in the region. According to an MIT working paper, repurposing methane gas for bitcoin mining could reduce CO2 emissions by 25% to 63%. Five of GDA's 11 US data centres are located in Texas, which showcases how bitcoin mining stabilizes power grids by acting as a flexible energy consumer. Miners adjust their electricity use during peak demand, helping balance the grid and stabilize supply. They also buy excess power from renewable energy producers like solar and wind farms, making these projects more financially stable and encouraging further investment. 'This flexibility is especially beneficial in rural areas, where the bitcoin mining industry creates jobs, revitalises infrastructure, and strengthens local economies,' says Mirakhmedov. Currently, 50%-60% of the electricity used by bitcoin mining comes from sustainable sources, including nuclear. The modular and portable nature of bitcoin mining enables miners to set up operations anywhere, utilizing low-cost clean energy sources. This adaptability can help accelerate the adoption of renewable energy production over the coming years, in the process driving investment in renewable energy infrastructure, especially in remote areas disconnected from major power grids. GDA's commitment to sustainability is further exemplified in Sweden, where the company has redefined how the bitcoin mining industry repurposes the heat generating from data centres. Heat from a data centre in Norsjö warms a large garage, preventing ice and snow build-up on snow-clearing trucks that are vital to the town's infrastructure in temperatures as low as -25°C. Powered by renewable energy from a nearby hydroelectric plant, this facility demonstrates the community benefits of bitcoin mining by-products. In Boden, 200km away, GDA's greenhouse project uses the heat by-products of bitcoin mining to support sustainable agriculture, producing fresh vegetables year-round, including strawberries, kale, and tomatoes for students, preschool children, and municipal employees. About GDA GDA is one of the world's largest and most experienced industrial-scale bitcoin mining companies, with a track record of building, managing, and scaling data centre operations spanning nearly a decade. We champion innovation, responsible energy use, and investment in the communities where we operate globally, including the 20 data centers across North America, South America, Europe, and Central Asia. With a total power capacity of over 600 MW, the company has brought over 180,000 miners online. At GDA, we are committed to supporting the infrastructure for the future of money by making the bitcoin network more robust, resilient, and secure For further press information please contact: Tony Lewis / Narayan Marar Total Communications Email: tony@ / narayan@
