Mr. Paul Morrison reports
HYDRO66 CONFIRMS OPERATIONAL EXPANSION AND EFFICIENCY IMPROVEMENT OF BLOCKCHAIN INFRASTRUCTURE
Hydro66 Holdings Corp.'s new ASIC (application-specific integrated circuit) equipment is now fully operational. Following the capital raise announced on July 12, 2019, and subsequently announced purchase of equipment on July 18, the company expected the equipment to be fully operational within eight weeks and is delighted to have delivered on this commitment.
This brings the company's total owned ASIC and GPU (graphics processing unit) capacity up to approximately 50 petahash per second using 3.9 megawatts 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 centre in Boden.
Alex Johnstone, chief financial officer, stated: "Adding 160 per cent to our hash-rate 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."
About Hydro66 Holdings Corp.
Hydro66 owns and operates an award-winning colocation data centre in Sweden specializing in high-performance computing hosting. The company hosts third party information technology infrastructure, utilizing 100-per-cent green power, at amongst the European Union's lowest power prices and within an ISO27001 accredited facility.
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