White Rock Management (“White Rock” or the “Company”), a global digital asset mining company, today announced the deployment of its first U.S. bitcoin mining operation in Texas’ Brazos Valley region.
Located north of Houston, the Company’s initial operation will be powered through by-product natural gas from active oil wells located onsite. White Rock is partnering with NGON, a green energy services and technology company, to capture the gas through environmentally friendly mitigation services and divert the energy to produce bitcoin.
By utilizing NGON’s facilities, White Rock’s new operation in Texas cements the firm’s commitment to environmentally responsible bitcoin mining. Capturing and recycling natural gas into energy has two main benefits:
- Saves grid power from burning fossil fuels by utilizing gas that would otherwise have been flared into the atmosphere – recycles approximately 82 million cubic feet (82,000 MCF) of natural gas per megawatt
- Reduces methane venting into the atmosphere from inefficient flares – by using NGON processes, White Rock’s operation prevents an estimated 4 million cubic feet (5,000 MCF) per megawatt of environmentally harmful methane from being vented annually
“The Brazos Valley mine is the first of several grid independent facilities we are planning in Texas that will utilize by-product natural gas from active oil wells, turning waste into a reliable, non-grid energy source,” said Andy Long, CEO of White Rock Management. “The launch of our first U.S. mining operation strengthens our position as an emerging player in the global digital asset mining industry.”
Headquartered in Switzerland, White Rock is focused on building and operating modern facilities in reliable geographies around the world. Its bitcoin mines feature the newest generation ASIC chips supplied by partner and industry leader Bitmain, which will increase productivity and profitability for the Company.
“We are in expansion mode, actively exploring additional locations throughout the United States and elsewhere in North America, Europe and Latin America with favorable business and political environments,” said Serhiy Tron, Founder of White Rock Management. “We are also seeking potential M&A opportunities within the bitcoin mining industry, as the current market environment is conducive to both M&A and strategic partnerships.”
White Rock’s modern and green data center sites in Sweden feature 30 MW of total capacity. Following the start of U.S. operations, its total hashrate is scheduled to exceed 1.6 EH/s.
About White Rock Management
White Rock Management is a digital asset mining company focused on building large-scale, renewable energy-powered mining operations throughout the world. White Rock was founded by Serhiy Tron, a Ukrainian entrepreneur and investor active in the Bitcoin, IT, logistics, and energy industries. For more information, visit www.wrm.swiss.
NGON is a green energy services and technology company committed to reducing methane and carbon emissions. NGON operates across the US and its management team combines experience in commodities asset management and several market cycles of Bitcoin mining. For more information, visit www.ngonsolutions.com.