• Saxet Infrastructure Group is building a 300-megawatt hosting site in Corpus Christi, Texas.
• Customers will have control over their energy strategy and can decide if they participate in demand response programs.
• The all-in hosting fee won’t be fixed; rather, Saxet will pass variable energy costs onto its customers and charge a fixed management fee that will be lower than that of many of its competitors.
Saxet Infrastructure Group’s Novel Energy Offering
Saxet Infrastructure Group is building a 300-megawatt data center in Corpus Christi, Texas, which will give customers unprecedented control over their energy strategy. With an additional 300 MW battery storage facility connected to the grid, customers can form their own power management strategy and actively participate in demand response programs if they choose to do so. Instead of a fixed all-in hosting fee, Saxet will pass on variable energy costs to customers while charging a fixed management fee that is lower than most of its competitors’.
The Origins Of This New Venture
This novel energy offering was born out of the ashes of Compute North’s bankruptcy. When crypto prices plummeted during the 2021 bull market, many hosting contracts with a fixed price were no longer sustainable for companies like Compute North due to the 2022 energy crisis. Ro Shirole left Compass Mining for Saxet as its chief commercial officer and has noted that “In a fixed-price hosting market, as we’ve seen the market shake out, one party usually ends up losing.”
Benefits For Crypto Miners And Other Users
Cryptocurrency miners stand to benefit from this new model offered by Saxet Infrastructure Group since electricity expenses are typically their largest operating cost. By giving them more control over how much money they spend on electricity costs, users can better manage their finances without having to worry about incurring unexpected fees or losses. Additionally, businesses or other users who need access to reliable power supply may also find this option attractive due to its flexibility and low fees compared to other providers.
Impact On Crypto Mining Industry
The development of this new venture could have far reaching implications for the crypto mining industry as a whole. It offers an innovative solution for miners who are looking for ways to reduce costs while still maintaining reliable access to electricity. If successful it could influence other providers within the industry to develop similar models with even more features and benefits for users down the line.
Conclusion
Saxet Infrastructure Group’s new offering provides an innovative solution for cryptocurrency miners who are looking for ways to reduce costs while still maintaining reliable access to electricity at competitive prices compared with other providers within the industry. It remains yet unclear how it may shape up future developments within this space but it certainly seems like an interesting proposition worth exploring further by those interested in reducing their operating expenses associated with cryptocurrency mining operations