Arcane Crypto invests in additional computing power to achieve full hosting capacityStockholm, October 26, 2021 - Arcane Crypto AB ("Arcane Crypto" or the "Company") has today, through the subsidiary Arcane Green Data Services ("Arcane Green Data"), entered into a purchase agreement to acquire 360 Antminer s19 Pro (100 TH/s). The purchase agreement represents a total of 36,000 Terra Hash (TH) of computing power and the total cost amounts to approximately SEK 28 million. The machines will be delivered in Q1 2022 and Arcane Green Data's total hosting capacity will then double to 2.5 MW. "Our mining related activity is already highly profitable and generating substantial revenue for Arcane Crypto. This additional order of new machines enables us to double our hosting capacity for mining activity next year. Mining is the mechanism that secures the bitcoin blockchain and we continue to stay true to our commitment of securing the bitcoin blockchain in the cleanest way possible, with renewable energy," says Torbjørn Bull Jenssen, CEO Arcane Crypto.
Arcane Green Data produces and supplies the raw data processing power, while partners, either within or outside the group, focus on using the data processing power in an optimal way to secure the bitcoin blockchain. This work includes selecting the optimal mining arrangement, and potentially using derivatives and other financial instruments to balance and optimize risk.
At current market conditions, with a total market hash rate of approximately 160m EH/s, a bitcoin price of around USD 63,000 and our total capacity of around 75 000 TH, our mining operation represents a monthly income potential of around SEK 10 million for Arcane Green Data. In addition to the investment itself, Arcane will incur electricity, hosting and administrative costs related to the operation.
For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
E-mail: [email protected]
About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research division.
Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.
Subscribe to press releases and financial information: https://investor.arcanecrypto.se/
For more information, please visit: https://www.arcane.no/
The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: [email protected], web: www.mangold.se.
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