Press release -
Hydro66 delivers 8 MW planned expansion on time and on budget
Boden, Sweden – October 18, 2018 - Hydro66 Holdings Corp (“Hydro66” or “the Company”) (CSE:SIX), is pleased to announce the completion of all 8 MW of the H2 2018 expansion project announced on July 31, 2018 on time, on budget and with new customers already occupying the space.Available customer power in the High Performance Computing (“HPC”) enterprise and blockchain colocation data center in Sweden has now expanded from 11 MW to over 19 MW.
“The demand for more efficient ways to process and store data shows no sign of slowing and companies are finding better ways to save money and scale up in an environmentally sustainable way”, says Hydro66 CEO Anne Graf. “Businesses planning for large data projects rely on dependable suppliers and Hydro66 are proud of our track record in bringing the largest colocation data center in the Nordics to market, on time and on budget. Our current site has plenty of room for expansion and when fully built out will provide up to 40 MW of colocation”, added Graf.
Hydro66 has been pioneering the message of clean green power at hyperscale. The expansion announced today encompasses 1000 square meters – 8 MW and 400 standard racks - of IT space for HPC apps such as artificial intelligence (“AI”), rendering and blockchain transaction verification services.
Situated on a 40 MW site beside a 120 MW substation in Boden, Sweden, Hydro66 currently has 19.2 MW deployed. The Phase 1 build out of the site is now completed, with groundworks for Phase 2 (up to an additional 21 MW) already at an advanced stage.
The main drivers for companies to move their data into 3rd party data centers are cost and scalability. HPC application users like the automotive industry, driverless cars, machine-learning, AI, mapping, and weather simulation are attracted to companies like Hydro66 because of grid resilience, green power and an approximate 50% cost reduction compared to legacy data centers.
The client pipeline consists of power intensive enterprise users in a variety of industries. Increasingly this includes hashrate verification companies and HPC solution providers who see great economic and operational potential from tailoring their own solutions via Hydro66 – all while being ready to expand rapidly with short time to market.For further information please contact:
|Anne Graf||Paul Morrison||Jason Atkinson|
|CEO||Chief Commercial Officer||Director, Corporate Development|
Hydro66 owns and operates a colocation data center in Sweden specializing in HPC hosting. The Company hosts third party IT infrastructure, utilizing 100% green power, at some of the EU’s lowest power prices and within an ISO27001 accredited facility. The Company is continuing to expand its footprint, with plenty room for ongoing expansion at the existing location.
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.
Revenues are generated from colocation data center services to hashrate service companies and traditional enterprise companies as well as digital currency self-mining (GPU and/or ASIC). Combining the above provides steady, diversified revenue with strong margins. A flexible and rapid build-out schedule will allow Hydro66 to rebalance between business lines as market conditions evolve.
Hydro66 is run by a team with decades of technical expertise in data center facility design, construction, operation and more recently blockchain infrastructure and hashrate services.
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.
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Hydro66 helps other forward-thinking companies match their applications with the optimal sustainable hosting environment. Hydro66 provides ultra-efficient, green colocation solutions ideal for cloud computing, HPC and enterprise hosting. Hydro66 offers wholesale and retail capacity in a state-of- the-art datacenter in the north of Sweden combining Internet-scale power availability, free-air cooling and unlimited diverse fibre connectivity.