Bitcoin mining operator Aspen Creek Digital Corporation, or ACDC, recently raised $8 million dollars in venture funding. The company announced Wednesday that its first solar-powered Bitcoin mining center is operational. The facility in western Colorado is home to the company's self-mining operations.  ACDC says the site marks the first step toward its mission to become the world's leading renewable Bitcoin mining operator.  Alexandra DaCosta, CEO of Aspen Creek Digital Corporation, joins Cheddar News' Closing Bell to discuss.

Closing Bell

Aspen Creek Digital Corporation Announces First Solar Powered Bitcoin Mining Center is Operational

turning now to another startup shaking things up. This edition of cheddar shakers is brought to you by a D. P. And the Bitcoin mining operator. Aspen Creek Digital Corporation recently raising eight million in venture funding. Well today, the company which also goes by the acronym A. C. D. C. Is announcing its first solar powered Bitcoin mining center is now operational. It's located in Western colorado and is home to the company's self mining operations. A C. D. C. As the company is known says the facility marks a first step toward its mission to become the world's leading renewable Bitcoin mining operator. So joining me now is the Ceo of Aspen Creek Digital Alexandra decosta Alexandra. Thanks so much for coming on. Talk to me more about this new facility and how your company is using a method that's different than traditional Bitcoin mining. Hi kristen thanks so much for having me on. I'm really excited to talk about asking Creek Digital. So we founded the company to help stand up new renewable power not only as a means to provide us with long term cheap renewable power as a source but also to bring new renewable power to local communities. And so how are you going to use this new funding to do that? So with our funding, not only did we stand up our six megawatt facility in colorado but it has also given us the runway to work on our 30 megawatt facility located in texas which is due to come online at the end of summer as well as to procure the necessary infrastructure to stand up. Our third facility which is 100 megawatt facility in west texas quantify Alexandra if you can just how much this helps the climate because for years now we've been doing stories about just the amount of power that it simply takes to have one Bitcoin transaction, whether that's a trade, whether that's buying something with Bitcoin, you name it. And so from a numbers perspective, how is your company helping? Well I think even more important than the specific effect it will have on the Bitcoin mining company. I want to focus on the effect that it's going to have on renewable power in general. A C. D. C. Is helping to stand up over three gigawatts of power over the next two years. And I think that that's a really important number because all of the data centers that we helped stand up are also co located with brand new renewable power sites that's bringing additional renewable power to that community. It's not just for our own consumption. And so as we know beyond just Bitcoin mining, the capitalization of the renewable power is really important to you know, kind of the next phase of power in this generation. So I am curious just in terms of conversations Alexandra that you're having with other companies in the Bitcoin in the Cryptocurrency space and other commitments. Whether or not you think other companies will be able to follow suit in a way that is more sustainable and renewable. Absolutely. I really do. I think to be honest there's a lot of great work that's already being done in the Bitcoin mining industry and we should not be selling that short. But I do think that the move to become more renewable needs to be an intentional one and there are those that do it for the environmental reasons like ourselves, but there's also a real strategic reason for doing it, which we are very aware of and being able to control your own power and stand up new renewable power also enables us as a Bitcoin mining company to control the most important and the most expensive input into Bitcoin mining, which is energy. Okay, so um one facility in colorado, another one in development in texas and it's my understanding there's a third one on the way as well, is that right, correct? We have, as I mentioned, a power pipeline of over three gigawatts over the next two years but our first phase is four projects and so 2022 will be the first three and we're really excited to see the progress. Any insight as to where that third one might be? That one is in west texas and it will be co located with 200 megawatts of solar. All right, Alexandra, decosta. Ceo of Aspen Creek digital Alexandra. Thank you