The Miami based Blockchain and High Performance Computing (HPC) company The Future of Mining is setting up data center operations in Sweden.
The deal includes a 1,500m2 brownfield data center facility as well as a large adjacent office facility. The plan is to also start a dedicated business accelerator – all located in the HPC cluster Boden-Älvsbyn the north of Sweden. The first 5 MW of capacity will be up and running already during November, with another 30 MW to follow over the coming 18 months. The deal with the local municipality of Älvsbyn was announced at a press conference earlier today.
Miami based The Future of Mining – a company jointly owned by blockchain industry companies NGPS and NIDC– is mainly known for their hi-tech solutions within blockchain based payment services as well as for their crypto currency mining operations. As of today, The Future of Mining mother company employs data center services run from the U.S. – but with limited energy access and scalability options, the company has chosen to scale and locate new operations in the north of Sweden.
CEO Gianfranco Castillo explains further:
“We are looking to scale fast in terms of both size and technology development. This strategic choice allows us easy access to everything from energy to innovative partners and European downstream customers. This allows us to keep to our ambitious growth trajectory without hassle and bottlenecks"
With a two pronged strategy of partly securing scalability of current mining operations, but also to offer HPC-based services to European clients, the company is looking not only to grow the actual data center operations – but also to develop a dedicated business accelerator within their own facilities. The deal is outset together with the local municipality, which is also taking a stake in the business accelerator operations.
“The well-known Swedish triple helix tradition, with united action between academia, industry and society, is right on track to secure growth in this new emerging industry. Today we’re quite happy and proud to take this next step together with The Future of Mining, commented Municipality Mayor Helena Öhlund during today’s signing.
The actual data center site will be located within a brownfield site that once housed the National Telecoms Administration. A site already connected to two of the three fiber grids running through the area, adjacent to an 80 MW substation run by Vattenfall, the largest power utility company in the Nordics. The site features redundant power capacity with upgrade plans for the future.
High Performance Computing (HPC) is an area within data center computing seeing rapid market growth and where the data center essentially serves as a “super computer in the cloud” for users, rather than merely as a storage facility. The HPC industry is particularly energy dependent and in need of resilience as well as scalability.The regional business cluster Boden-Älvsbyn encompasses a tenfold of global companies which have previously set up HPC and Blockchain operations within the cluster, among them British Hydro66 and Chinese Canaan Creative. Node Pole is the joint Swedish initiative for energy intensive industry establishments.