Hydro66 Confirms Operational Expansion and Efficiency Improvement of Blockchain Infrastructure

Tuesday, 17. September 2019 18:15

Adds 31 PH/s to existing blockchain infrastructure and improves efficiency by 18%

Boden, Sweden--(Newsfile Corp. - September 17, 2019) - Hydro66 Holdings Corp. (CSE: SIX) (OTCQB: HYHDF) ("Hydro66" or the "Company")  is pleased to announce that its new ASIC equipment is now fully operational. Following the capital raise announced on July 12th, 2019, and subsequently announced purchase of equipment on July 18th, the Company expected the equipment to be fully operational within 8 weeks, and is delighted to have delivered on this commitment.

This brings the Company's total owned ASIC and GPU capacity up to approximately 50 PH/s using 3.9 MW of power, from the previously disclosed 19 PH/s and 1.75 MW.

The Company continues to develop colocation opportunities and other High Performance Computing Enterprise hosting requests at its data center in Boden.

Alex Johnstone, CFO, stated,

"Adding 160% to our hashrate capacity over the last 12 weeks is a tremendous achievement. Working with a global supply chain during the vacation period was a challenge we met head-on and delivered on our shareholder commitments. It is essential for Hydro66 to maintain investment in blockchain infrastructure and, where possible, improve efficiency at this point in the market cycle. Network capacity continues to grow and Hydro66 remains committed to the provision of infrastructure to this nascent industry."


Paul Morrison
Chief Commercial Officer of Hydro66 UK Limited

Jason Atkinson
Director, Corporate Development

About Hydro66

Hydro66 owns and operates an award-winning colocation data center in Sweden specializing in High Performance Computing ("HPC") hosting. The Company hosts third party IT infrastructure, utilizing 100% green power, at amongst the EU's lowest power prices and within an ISO27001 accredited facility.

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. www.hydro66.com

Forward-Looking Information

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.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47852

Related Links: