HIVE Blockchain Technologies Ltd., which owns GPU-based digital currency mining facilities in Iceland and Sweden for minting digital currencies like Ethereum, announced plans for a major new facility north of the Arctic Circle.
HIVE Blockchain has agreed to acquire Kolos Norway AS for approximately US$9.9 million. Kolos' primary asset is a 64-hectare property located in Ballangen, Norway, approximately 225 kilometres north of the Arctic Circle and in proximity to hydroelectric facilities able to supply 1 GW of excess capacity to the planned data centre.
"This is another major milestone in our continuing global expansion as a leading blockchain and cryptocurrency infrastructure company," said Harry Pokrandt, CEO and Director of HIVE. "Kolos will be a flagship data centre project for HIVE for years to come and has the potential to expand to more than 1.0 GW, or 1,000 MW, of green hydroelectricity consumption dedicated to blockchain infrastructure. For context, our advanced mining operations in Iceland and Sweden will collectively represent 44.2 MW of consumption – also from green sources."
