When we launched Genesis Mining over six years ago, we set out to build the largest and most trusted crypto mining company in the industry.
Today we proudly serve over 2,000,000 customers, employ hundreds of people, and manage over a dozen large-scale data centers across our three core divisions — hosted mining which makes up 20% of our business, farm management for institutional clients, and our self-mining facilities, the biggest part of the business.
While these numbers are validating, our team is driven by far more than revenue metrics and customer growth. We are driven by our strong belief that the need for decentralization has never been greater than it is today and that blockchain has the power to solve many of the problems caused by centralization.
Over the past few years, we’ve seen organizations of all sizes announce initiatives that promote corporate social responsibility and aim to make the world a better place. Seeing these initiatives inspired us to begin exploring different opportunities that would allow us to give back.
Today, we’re excited to announce Genesis Mining’s new philanthropic arm: Hash Power For Science.
What is Hash Power For Science?
The process of crypto mining requires a tremendous amount of computing power and energy. Hash Power For Science will seek out ways to leverage our computing infrastructure and the excess energy that our facilities generate to support scientific research and initiatives that we believe could impact the world in a positive way.
There are many different possibilities here but one of the most exciting use cases we are exploring is the ability to use our computing network to provide researchers with limited resources access to large-scale computing power.
Many talented scientists and research groups today are working on important discoveries yet find their progress slowed and limited by a lack of capital required to pay for the large-scale computing they need.
This idea of “volunteer computing” has been around for years and many organizations have made great strides by encouraging individuals to donate their own excess computing power.
But to truly have an impact, it will take much more than a few thousand personal computers and with the scale of our operations, we view it as a responsibility to do what we can to enable and support research that aims to make the world a better place.
If you’re part of a research group or organization that’s researching and developing ideas that could change the world yet are limited by large-scale computing access, we’d love to hear from you. Please contact [email protected] and we can discuss if there is a way for us to support your research.
The second potential use case we are exploring is a private-public partnership that’s been in development for well over a year now. The project’s goal is to build a system capable of recycling excess energy waste from crypto mining facilities into sustainable heat and energy to power greenhouses.
The first pilot project is already in the works and more details will be announced in the upcoming weeks.
How can we work together?
As the industry leader in institutional crypto mining, we view it as our moral and ethical responsibility to push the industry forward and proactively look for ways to support research and causes that we believe will make the world a better place.
While there are many clear use cases for how our computing power can be leveraged, we’re open to hearing from any and all researchers, governments, and organizations who could benefit from what we have and would like to explore partnering together in ways that will move the world forward.
Please send information about your project and how you think we can potentially support you to [email protected].
