Hyperscale Data to Launch Bitcoin Mining Pilot in the Gulf of Mexico with Oil and Gas Producer
Hyperscale Data (NYSE American: GPUS) has announced a pioneering Bitcoin mining pilot project in the Gulf of Mexico. The initiative involves installing a mobile data center with approximately 100 Bitcoin miners on an offshore platform off Louisiana's coast, operated by a partner company. The project will utilize underutilized electrical power generated from natural gas turbines on the offshore structure. The pilot is set to commence in the coming weeks and run until February 2025, with possible monthly extensions. This innovative approach aims to monetize stranded assets while avoiding additional strain on the electrical grid as part of the company's transition to a pureplay data center business.
Hyperscale Data (NYSE American: GPUS) ha annunciato un progetto pilota pionieristico di mining di Bitcoin nel Golfo del Messico. L'iniziativa prevede l'installazione di un centro dati mobile con circa 100 miner di Bitcoin su una piattaforma offshore al largo della costa della Louisiana, gestita da una società partner. Il progetto utilizzerà energia elettrica sottoutilizzata generata da turbine a gas naturale sulla struttura offshore. Il pilota dovrebbe iniziare nelle prossime settimane e durare fino a febbraio 2025, con possibili estensioni mensili. Questo approccio innovativo mira a monetizzare asset abbandonati senza aggiungere ulteriore stress alla rete elettrica, come parte della transizione dell'azienda verso un'attività di centro dati specializzata.
Hyperscale Data (NYSE American: GPUS) ha anunciado un innovador proyecto piloto de minería de Bitcoin en el Golfo de México. La iniciativa consiste en instalar un centro de datos móvil con aproximadamente 100 mineros de Bitcoin en una plataforma offshore frente a la costa de Luisiana, operada por una empresa asociada. El proyecto aprovechará la energía eléctrica infrautilizada generada por turbinas de gas natural en la estructura offshore. El piloto comenzará en las próximas semanas y se extenderá hasta febrero de 2025, con posibles extensiones mensuales. Este enfoque innovador busca monetizar activos varados sin añadir presión adicional a la red eléctrica, como parte de la transición de la empresa hacia un negocio exclusivo de centros de datos.
하이퍼스케일 데이터 (NYSE American: GPUS)는 멕시코 만에서 비트코인 채굴 파일럿 프로젝트를 발표했습니다. 이 이니셔티브는 루이지애나 해안의 해상 플랫폼에 있는 약 100개의 비트코인 채굴기를 갖춘 모바일 데이터 센터를 설치하는 것으로 구성됩니다. 이 프로젝트는 해상 구조물에서 생성된 자연가스 터빈의 미활용 전력을 이용할 것입니다. 파일럿 프로젝트는 오는 주에 시작하여 2025년 2월까지 진행되며, 매월 연장이 가능할 수 있습니다. 이 혁신적인 접근 방식은 고립된 자산을 수익화하고 전력망에 추가적인 부담을 주지 않도록 하는 것을 목표로 하며, 데이터 센터 비즈니스로의 전환의 일환입니다.
Hyperscale Data (NYSE American: GPUS) a annoncé un projet pilote novateur de minage de Bitcoin dans le Golfe du Mexique. L'initiative implique l'installation d'un centre de données mobile avec environ 100 mineurs de Bitcoin sur une plateforme offshore au large de la côte de la Louisiane, exploitée par une société partenaire. Le projet utilisera de l'énergie électrique sous-utilisée générée par des turbines à gaz naturel sur la structure offshore. Le projet pilote devrait commencer dans les prochaines semaines et se poursuivre jusqu'en février 2025, avec des extensions mensuelles possibles. Cette approche innovante vise à monétiser des actifs abandonnés tout en évitant d'ajouter une pression supplémentaire sur le réseau électrique, dans le cadre de la transition de l'entreprise vers une activité de centre de données spécialisée.
Hyperscale Data (NYSE American: GPUS) hat ein wegweisendes Bitcoin-Mining-Pilotprojekt im Golf von Mexiko angekündigt. Die Initiative beinhaltet die Installation eines mobilen Rechenzentrums mit etwa 100 Bitcoin-Minern auf einer Offshore-Plattform vor der Küste von Louisiana, die von einer Partnerfirma betrieben wird. Das Projekt wird untergenutzte elektrische Energie nutzen, die von Gasturbinen auf der Offshore-Struktur erzeugt wird. Das Pilotprojekt soll in den kommenden Wochen beginnen und bis Februar 2025 laufen, mit möglichen monatlichen Verlängerungen. Dieser innovative Ansatz zielt darauf ab, stillgelegte Vermögenswerte zu monetarisieren, ohne das Stromnetz zusätzlich zu belasten, und ist Teil des Übergangs des Unternehmens zu einem reinen Rechenzentrumsbetrieb.
- Innovative utilization of underutilized power resources for Bitcoin mining
- Strategic expansion into offshore mining operations without grid dependency
- Potential for project expansion if pilot proves successful
- scope of initial pilot with only 100 Bitcoin miners
- Short-term pilot duration with uncertain extension prospects
- Experimental nature of the project with unproven feasibility
Insights
This pilot project represents an innovative approach to Bitcoin mining by utilizing stranded natural gas assets in offshore operations. The deployment of 100 Bitcoin miners on an offshore platform demonstrates a creative solution to two key challenges in crypto mining: energy costs and environmental impact. By tapping into otherwise unused gas-generated power, this initiative could provide a cost-effective mining operation while minimizing environmental footprint.
The three-month pilot duration, with potential extensions, suggests a cautious but strategic approach to validating the concept. While the scale is relatively small, successful implementation could lead to significant expansion opportunities in the Gulf region's vast offshore infrastructure. The timing aligns with growing industry focus on sustainable mining practices and could position Hyperscale Data advantageously in the evolving regulatory landscape.
The utilization of stranded gas assets for Bitcoin mining represents a potentially profitable solution to a common challenge in offshore operations. Flared or stranded gas typically represents lost revenue and environmental concerns for oil and gas producers. Converting this waste into cryptocurrency mining power could create value from otherwise unused resources.
However, the harsh marine environment poses unique operational challenges, including saltwater corrosion and maintenance logistics. The success of this pilot will largely depend on the reliability of equipment in offshore conditions and the consistency of gas supply. The project's economics will need to account for higher maintenance costs and potential weather-related disruptions typical of Gulf operations.
LAS VEGAS, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data,” or the “Company”), today announced the initiation of a cutting-edge pilot project aimed at exploring the feasibility of Bitcoin mining in the Gulf of Mexico. This project represents a unique collaboration, taking advantage of underutilized electrical power generated by turbines supplied by natural gas on an offshore structure off the coast of Louisiana operated by our project partner (the “Partner”).
The pilot program will involve the installation by Hyperscale Data of a mobile data center with approximately 100 Bitcoin miners on the Partner’s structure, which is a platform that collects gas from various offshore wells, for further transportation onshore. This mobile data center will utilize the electrical power generated from gas that is being held, but not ready for transportation, demonstrating an innovative approach to energy utilization, monetizing stranded assets and digital currency production.
"This pilot program provides the Company with a unique opportunity to explore new approaches to Bitcoin mining without adding pressure to an already stressed electrical grid. As the Company makes its transition to a pureplay data center business, it is important for the Company to explore new operational strategies to deploy its Bitcoin mining machines. We look forward to the outcome of the pilot, and if successful, instituting a larger program with our Partner,” stated William Horne, CEO of Hyperscale Data.
The pilot is expected to start in the coming weeks, once the mobile data center and Bitcoin mining machines are delivered to the structure, and is anticipated to run until February 2025, with the possibility of monthly renewals, until such time as sufficient data has been accumulated to determine the feasibility of a larger project. This strategic partnership underscores a shared vision for integrating cutting-edge technology with traditional energy practices to promote sustainability and economic efficiency.
For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors, and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at https://hyperscaledata.com/ or available at www.sec.gov.
About Hyperscale Data, Inc.
Hyperscale Data is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines Bitcoin and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides mission-critical products that support a diverse range of industries, including a social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma, hotel operations and textiles. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; Hyperscale Data, Inc.
Forward-Looking Statements
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