Sterling Digital plc (AQSE: ASIC), a company which uses low-cost underutilised natural gas in West Texas to power high margin digital asset production directly at the source, is pleased to announce it has recorded its first verified Bitcoin mining output during the ongoing commissioning programme.
During a controlled live-load commissioning run, the site’s power-generation system supplied electricity to Sterling’s compute fleet, enabling the site to record its first verified Bitcoin mining output, which has been deposited into the Company’s institutional-grade custody account with Coinbase.
This represents the first end-to-end operation of Sterling’s integrated infrastructure, converting contracted low-cost West Texas natural gas into on-site electricity, computing power and digital asset output.
The achievement provides operational validation of Sterling’s complete gas-to-power-to-Bitcoin model under live conditions. Data gathered during the run is now being used to optimise performance across the power-generation, electrical-distribution, control and mining systems ahead of commencing continuous commercial operations.
With end-to-end mining output now demonstrated under live commissioning conditions, the programme is advancing through its remaining optimisation and validation work. The team is focused on building upon this successful live-load performance as the site moves towards continuous commercial operations and Bitcoin production.
Once fully commissioned, Sterling’s compute fleet is expected to provide approximately 193,500 terahashes per second of computing capacity.
The Company will provide a further operational update as the commissioning programme progresses.
Stefan Michaelides, CEO of Sterling Digital, commented:
“Recording our first verified Bitcoin mining output at our West Texas site is a defining operational milestone for Sterling. It demonstrates that the complete power plant infrastructure we have built can operate end-to-end under live conditions.
Sterling set out to build a vertically integrated platform capable of converting low-cost West Texas natural gas directly into high margin digital assets. This achievement provides tangible validation of that model, and our focus is now on building upon this successful commissioning run as we advance towards continuous low-cost Bitcoin production.”
The Directors of the Company accept responsibility for the contents of this announcement.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as it forms part of UK domestic law pursuant to the European Union (Withdrawal) Act 2018.
