Le Lézard
Classified in: Environment, Science and technology, Business
Subject: VEN

Aspen Creek Digital Corporation Announces $8 Million Series A Funding


Galaxy Digital and Polychain Capital Lead Investors

BOSTON, Sept. 27, 2022 /PRNewswire/ -- Aspen Creek Digital Corporation (ACDC), a renewable Bitcoin mining operator, announces today an $8 million Series A financing round led by investors Galaxy Digital and Polychain Capital. Jamie Lee of Tamarack Global, Alex Robertson of Tiger Management, CMT Digital, Luxor Technologies, Mana Ventures, Gaingels, and Copper River Energy Partners also participated in the round.

"ACDC was founded to create a sustainable source of renewable energy to power our operations and put new renewable energy on the grid. This funding will support our 3GW+ pipeline of wind, solar and battery generation by 2025 and support innovative solutions to build the world's leading fleet of renewably powered data centers," said Alexandra DaCosta, CEO of ACDC.

In June, ACDC announced its first bitcoin mining center, a 6MW HPCC co-located behind-the-meter with a 10MW solar farm, commenced operations in west Colorado.

ACDC's second facility, which is on track to be operational this fall, is a 30MW HPCC co-located behind-the-meter with an 87MW solar farm. ACDC's third project is a 150MW HPCC co-located behind-the-meter with a 200MW solar farm. Both projects are located in Texas and represent significant additional generation resources for the Electric Reliability Council of Texas (ERCOT), as well as valuable controllable load resources that expand the reach of renewables by stabilizing the grid.

"The narrative around Bitcoin's energy consumption is increasingly in focus. We are excited to support a company focusing on how Bitcoin is the solution for sustainable energy projects." said Amanda Fabiano, Head of Mining at Galaxy Digital.

"We're excited to partner with ACDC as they build out more long-term, fixed-cost renewable energy production to enable more predictable Bitcoin mining operations, while providing the flexibility to sell excess power opportunistically into volatile energy markets," said Olaf Carlson-Wee, founder of PolychainCapital. "It's great to witness Bitcoin's ability to incentivize renewable power production at scale, and we think ACDC is at the forefront of these efforts."

About Aspen Creek Digital Corporation (ACDC)

ACDC is catalyzing the decarbonization of power generation by creating the world's leading fleet of renewably powered data centers. Coupling financial ingenuity and energy expertise, we develop behind-the-meter data centers with new renewable power projects to deliver carbon transparency, reduce power price volatility and add renewables to the grid. For more information visit: https://acdigitalcorp.com/ 

 

SOURCE Aspen Creek Digital Corporation


These press releases may also interest you

at 09:21
Westbridge Renewable Energy Corporation (FRA: PUQ) ("Westbridge Renewable" or the "Company") is pleased to announce that its wholly-owned subsidiary, Georgetown Solar Inc. ("Georgetown"), has secured financing to fund its AESO contribution...

at 09:19
Brennan Investment Group ("Brennan"), a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has acquired approximately 37 acres at the southeast corner of East 128th and...

at 09:17
CB Insights today named Clarius Mobile Health to its fourth-annual Digital Health 150, showcasing the 150 most promising private digital health companies of 2022. A leading provider of high-definition wireless ultrasound systems, Clarius helps...

at 09:15
The rise of diversity, equity and inclusion (DE&I) as an organizational and employee priority demands that employers rethink and redefine their group benefits programs, according to a new white paper by Aon plc , a leading global professional...

at 09:15
Drata, a continuous security and compliance automation platform, today announced $200 million in Series C funding co-led by ICONIQ Growth and GGV Capital. The latest round of funding doubles Drata's valuation to $2 billion since its Series B in...

at 09:14
Hunt Club , a recruiting startup that leverages the power of relationships and technology to help companies find top talent, announces their $40 million Series B round co-led by WestCap and Sator Grove. The investment round follows Hunt Club's $10...



News published on 27 september 2022 at 06:00 and distributed by: