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Blockchain investment firm acquires Swedish colocation provider Hydro66

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Blockchain investment firm acquires Swedish colocation provider Hydro66


Canadian investment firm Arctic Blockchain has acquired renewably powered colocation specialist Hydro66 to cash in on demand for datacentre capacity from cryptocurrency miners


Swedish colocation provider Hydro66 has been acquired by a Canadian blockchain investment company, as it reinforces its commitment to expanding its renewable energy-powered datacentres.


Hydro66 opened for business in October 2015, with a capacity of 3.2MW, and in that time has attracted a mix of enterprise colocation clients and wholesale cryptocurrency customers.


In response to this demand, the firm has vowed to expand the capacity of its facility, which runs on hydroelectricity supplied by the neighbouring Lule River in Sweden, to 40MW by early 2019.


The company’s acquirer, Arctic Blockchain, said the deal would pave the way for it to enter the cryptocurrency mining market, while lending support for Hydro66’s wider growth plans, on the back of a $10m CAD funding round.


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