Focused on progressing the Enterprise business while taking advantage of recent positive momentum in the crypto market
Boden, Sweden--(Newsfile Corp. - April 3, 2019) - Hydro66 Holdings Corp. (CSE: SIX) (OTCQB: HYHDF) ("Hydro66" or the "Company") is pleased to provide a business update and its strategic plan going forward.
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Hydro66 remains well positioned to take advantage of the exponential growth in data and computing trends by providing access to low-cost, green energy in an ultra-efficient hyperscale colocation data center. The company has already built the largest High-Performance Computing ("HPC") colocation data center in Europe with further potential to expand this existing capacity.
The Company's award-winning data center, located in Boden, northern Sweden, is custom designed as multiple halls physically connected by a shared services area. The halls can be individually engineered for cooling, power density, security and redundancy to provide clients with bespoke solutions. The current capacity of the data center is up to 19.2 MW with the potential to expand to 40 MW of 100% hydroelectric, low carbon power and up to 80 MW including an adjacent site.
Anne Graf, CEO, commented, "As data growth and new compute-intensive technologies are outgrowing IT budgets, corporations are searching for new solutions. Hydro66 continues to champion the idea of moving data towards power to realize cost savings and to reduce the environmental impact of the data center industry. We are addressing the problem through location and design, utilizing efficiency and grid resiliency to drive down both capital and operating costs. This approach allows Hydro66 to offer companies solutions that can result in an approximate 50% reduction in cost compared to legacy data centers."
Today, the Company sees growth from customers in four key sectors; System Integrators, Enterprise Businesses, Cloud Hosting and HPC.
System Integrators: Applications are normally served from client's premises, a third-party data center or the public cloud. It is essential for the System Integrator help clients make hosting decisions to maintain control and ensure quality. Having a strong colocation data center partnership is beneficial for System Integrators to add value to the client, enhance retention rates and increase margin opportunities.
Enterprise Businesses: Hydro66's colocation data center is perfect for security conscious Enterprise clients whose needs extend beyond on-premise solutions. Reducing complexity by outsourcing non-core activities, such as physical data center operations, allows clients to focus on their principal business. Hydro66 is proving to be a perfect partner.
Cloud Hosting: Hydro66 helps security conscious cloud providers who need EU carrier neutral colocation and recognize their hosting partner must offer economies of scale and flexible growth options. Saving money with ultra-efficient colocation at zero carbon cost is a win-win for cloud providers and their clients.
High Performance Computing: By operating industrial grade wholesale HPC optimised server and ASIC or GPU data halls Hydro66 offers a quick and assured solution for operators needing to deploy megawatts of equipment in the minimum time possible.
In addition to the colocation business that Hydro66 continues to build, the Company continuously monitors the global cryptocurrency and blockchain space for opportunity. The Company is opportunistic in utilizing its world-class data center infrastructure to provide hashing power to mining pools when positive returns can be generated. This flexibility, to turn on and off hashing power, is a strong competitive advantage and avoids leaving the company materially exposed to negative movements in the sector, while providing significant leverage to cryptocurrency price upside.
Anne Graf, CEO, continued, "Hydro66 continues to look at the crypto asset space and opportunistically enter whenever it is profitable. Utilizing equipment that was acquired at the bottom of the market means that there is essentially no capital expenditure to recuperate. This allows us to gain exposure to a rising cryptocurrency market while substantially protecting ourselves from any downside volatility. The ability to gain exposure from hashing power is a great cash flow opportunity as we continue to build out our Enterprise business."
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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
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.
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