Wholesale colocation and cryptocurrency activities accelerating based on continued momentum in cryptocurrency market
Boden, Sweden–(Newsfile Corp. – May 1, 2019) – Hydro66 Holdings Corp. (CSE: SIX) (OTCQB: HYHDF) (“Hydro66” or the “Company”) is pleased to provide an update on its cryptocurrency operations, which form part of its three-pronged strategy consisting of ultra-low emissions Enterprise colocation for High Performance Computing (“HPC”) and both direct and wholesale cryptocurrency operations.
As the cryptocurrency market has seen a gradual improvement, Hydro66 has been able to utilize advantageous hedged power contracts to profitably deploy its own GPU and ASIC equipment to provide hash power to mining pools. The Company continues to selectively purchase GPU and ASIC equipment as difficulty and pricing of computing equipment, combined with in-house analysis, suggests that there is a substantial opportunity to generate cashflow.
Additionally, one of Hydro66’s larger wholesale colocation customers has resumed operations again in its facility and there has been an increase in new sales enquiries and current customer expansion.
Anne Graf, CEO, Hydro66 commented, “Hydro66 is well positioned at the right point of the next crypto upcycle. We now own approximately 1.25 MW of GPU and ASIC equipment, which provides high leverage to a rising cryptocurrency market. We will continue to closely monitor the crypto market and use our substantial in-house expertise to benefit from the upswing as we continue to build out our Enterprise colocation business.”
There has also been positive momentum in the Company’s Enterprise sales efforts. The colocation pipeline has been growing with accelerating interest both within Sweden and from neighbouring countries, particularly Germany.
Hydro66 owns and operates an award-winning colocation data center in Sweden specializing in High Performance Computing (“HPC”) hosting. The Company hosts third party IT infrastructure, utilizing 100% green power, at amongst the EU’s lowest power prices and within an ISO27001 accredited facility.
Hydro66 is uniquely positioned to capitalize on opportunities in blockchain infrastructure as well as the traditional Enterprise colocation data center market. The Company provides truly green power at a leading price, purpose-built space and cooling, telecoms, IT support services and 24/7 physical security in their facility in Boden, Sweden.
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