BitVest Digital Mining Signs Long-Term Hosting Agreement at Verne Global Data Center
Large scale Bitcoin transaction processor to utilize Icelandic carbon neutral power grid for mining operations.
BitVest Digital Mining Corp, a Bitcoin transaction processing (mining) business, today announced they have entered into a long-term hosting and power supply agreement with the Verne Global data center, located in Keflavik, Iceland.
Verne Global’s 100 percent renewable powered data center, located on a former NATO airbase, harnesses power from Iceland’s dual-sourced power grid, comprised of hydroelectric and geothermal energy. The power needed to mine big data can oftentimes mean big costs for companies. For BitVest, the move to Iceland allows for significant savings and increased ROI.
Verne Global will supply BitVest with an affordable 100% carbon-neutral power solution that offers unparalleled pricing and efficiency. Low-cost, reliable and sustainable power is crucial for Bitcoin mining computers that generate huge amounts of heat.
In warmer climates, the majority of the costs for Bitcoin mining comes from expensive air conditioners and paying for the power to run them. By using Iceland’s temperate climate to cool the equipment, BitVest can save as much as 30% in cooling costs.
Moreover, Iceland’s low-cost electrical power comes from one of the world’s most reliable power grids. Verne Global’s campus is also connected to the world via redundant, high-capacity, multi-terabit-per-second connections. This long-term hosting agreement will help BitVest to meet corporate objectives by providing a scalable solution that addresses both immediate and future power requirements.
“It makes strong business and financial sense to move our mining operations to a renewable data center where we are able to reduce our total cost of ownership by 30-40%,” said Bitvest CEO, Devin L. Hahn.
“We chose Verne Global primarily due to the climate profile for computing and the advanced infrastructure design of the campus in Iceland. The power is also backed by secured, long-term pricing predictability, meaning BitVest has visibility into the future of our power costs. In the end, we are able to mine smarter with Verne Global’s flexible and scalable data center space.”
About BitVest
BitVest Digital Mining is headed up by team of seasoned business professionals, high-tech entrepreneurs and Bitcoin enthusiasts. Bitvest is presently mining Bitcoins with a combination of Bitfury, Cointerra, Spondoolies Tech, KnCMiner, and BitMain, Bitcoin Mining computers.
BitVest has had an aggressive strategy of hardware investment and re-investment, which produced just under $4 million worth of Bitcoins in 2014. Thanks to a long-term contract with Verne Global for hosting and power generation, our expansion plans can move forward with the deployment of as much as 17 Petahash in mining hardware into one of the world's finest, environmentally friendly data centers.
BitVest: http://www.bitvestinc.com/
About Verne Global
Verne Global is an innovative developer of energy efficient data centre campuses located in Keflavik, Iceland. We offer our clients scalable and secure data centre solutions that combine unparalleled cost savings and renewable energy to meet the business demands of a data driven economy. Discover how companies like BMW Group, RMS, CCP Games and BitVest Digital Mining are lowering their operational costs and going green with their data at the Verne Global website.
Verne Global: http://www.verneglobal.com/
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