Regulatory Series on Cryptocurrencies: FCA Issues UK’s Crypto-Businesses Cutoff Date For Obtaining Licence
Digital Currency Revolution Series: US CFTC Recognizes Digital Transformation And Hints Holistic Framework On Digital Assets
Blockchain Revolution Series: India’s Leading IT Giant TCS Launches Quartz Smart Solution For Cryptocurrency Trading
Digital Currency Revolution Series: Gemini Designates Ex-Goldman Sachs Executive As MD For APAC Region
Crypto-Technicals: ETH/USD Stalls On Hanging Man, Bulls Eyeing On Breakout Of 100-EMAs, Hedging Perspectives For Upside Risks
Digital Currency Revolution Series: Ethereum Bulls Halt At $250 But All Set To Take-Off, What Drives Further Upside Journey?
Cryptocurrency Derivatives Series: Brazil’s SEC CVM Orders Cryptocurrency-Exchange Binance To Stop Futures Trading
Blockchain startup Bitfury commits $35M in new energy-efficient datacenter in Norway
The Bitfury Group has announced its expansion into Norway with the opening of an energy efficient datacenter.
The startup investing about 274 million NOK (35 million USD) in the datacenter’s infrastructure and expects the center to create approximately 30 local jobs. The datacenter is located with two physical sites in Mo Industrial Park in the town of Mo i Rana.
Bitfury CEO Valery Vavilov commended the federal government for creating a favorable tax code that makes companies want to invest in Norway.
“Norway is a perfect match for Bitfury’s focus on innovation and growth,” said Vavilov. “We look forward to identifying new customer relationships and designing the products and solutions they need to make their enterprises run more securely and efficiently.”
In its official announcement, Bitfury said that the power usage effectiveness (PUE) in the datacenter is 1.05 or lower on an average, which makes it one of the world’s most energy efficient. The company is purchasing about 350 GWh of 100% renewable energy per year from local supplier Helgeland Kraft. In addition, it ensures that the energy comes from renewable sources by acquiring Guarantee of Origin certificates from local generation, including the Øvre Forsland, a prize-winning hydropower plant.
“I am delighted that the Bitfury Group has chosen to establish their new data center in Norway and Mo i Rana,” said Torbjørn Røe Isaksen, Norway’s Minister of Trade and Industry. “Data will become an increasingly important resource for the business community as well as for society in general. This represents a major economic opportunity for Norwegian businesses. The datacenter industry is growing fast, and provides Norway with opportunities of economic growth and new jobs."