Company Intelligence: Genesis Digital Assets

Genesis Digital Assets (GDA) is an industrial-scale, vertically integrated, global bitcoin self-mining company that mines bitcoins in its own facilities for itself. Unlike many other miners who mostly host other clients, Genesis Digital Assets owns all the mining equipment on its mining farms while running 3.1% of the whole Bitcoin network, as per the last public document specifying this, dated August 2021. Although there is a likelihood that GDA’s share of the global bitcoin mining hash rate has changed, given how the mining landscape has evolved, there is no public information accessible to confirm that.

Genesis Digital Assets was spun off from Genesis Mining, a provider of bitcoin and altcoin cloud mining services started in Iceland. Marco Streng and his partner Marco Krohn launched Genesis Mining in 2013 to democratize bitcoin mining when they realized the profitability of bitcoin mining from home was diminishing. The firm pioneered the idea of mining via the cloud, which brought over two million miners into the mining ecosystem.