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GRIID Infrastructure to Double Bitcoin Mining Capacity in Lenoir City

GRIID Infrastructure Inc. plans major expansion to enhance bitcoin mining capacity in Tennessee, leveraging low-cost energy and boosting local economies.
Published on 2024-02-14

Expanding Bitcoin Mining Operations

GRIID Infrastructure Inc., a leading bitcoin mining operator, is set to significantly increase its mining capacity in Lenoir City, Tennessee. The company plans to double its current capacity from 20 MW to 40 MW by mid-2024. This expansion involves a new site that will host approximately 6,500 machines, underscoring GRIID's strategy of converting power pipeline projects into active production sites.

Strategic Location in the Tennessee Valley

The Tennessee Valley Authority (TVA) provides affordable, reliable, and low-carbon electricity, making the area an attractive spot for bitcoin mining. GRIID's CEO, Trey Kelly, highlighted the benefits of expanding in this region, which offers a stable energy environment conducive to long-term operations.

Community and Economic Impact

The expansion is welcomed by local leaders, including Lenoir City's mayor, who emphasized the economic benefits brought by GRIID. The presence of the company has generated tax revenue and created jobs, contributing positively to the community. Moreover, GRIID's operations help sustain local power plants by funding infrastructure improvements, reducing the financial burden on local ratepayers.

Current and Future Operations

GRIID operates additional mining facilities in East Tennessee, specifically in Maynardville and Limestone, and maintains a development center in Rutledge. A co-located facility is also operational at the Glen Park Dam in Watertown, New York. With a total of 68 MW of mining capacity, 55 MW of which are in Tennessee, GRIID is poised for further expansion. The upcoming 60 MW facility in Jackson, TN, will further cement GRIID’s commitment to growth, bringing the total capacity to nearly 150 MW once all new sites are operational.

This strategic expansion not only boosts GRIID's mining capabilities but also strengthens its position as a key player in the bitcoin mining industry while supporting local economies and energy infrastructures.

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