The Data Center Advantage

The Verne Global data center supplies BitVest with an affordable 100% carbon neutral power solution that offers unparalleled pricing and efficiency. Low-Cost, Reliable, and Sustainable Power is crucial for Bitcoin mining computers that generate huge amounts of heat. The majority of the costs for Bitcoin mining comes in the form of an electric bill and in warmer climates that means expensive air conditioners and paying for the power to run them. By using the cold Icelandic air, pumped in from outside, BitVest can save as much as 30% in cooling costs. Moreover, Iceland’s electrical power is priced among the lowest in the world, coupled with an electrical grid that is known to be one of the most reliable in the world. Additionally, the Verne facility is connected to the world via redundant, high-capacity, multi-terabit-per-second connections. The facility is a mere 20 milliseconds from both London and Paris and 41 milliseconds from New York. This long term hosting agreement will help BitVest to meet our corporate objectives by providing a scalable solution that addresses both our immediate and future power requirements.

BitVest has entered into a long term contract for hosting services at the Verne Global data center in Keflavik Iceland. The exact terms of the agreement cannot be disclosed in this format do to an existing NDA signed by the parties to the contract. However, this information is available to Shareholders of the Company that have signed the (BitVest mutual non disclosure agreement).

For miners operating out of personal residences both space and cooling will rapidly become an issue, as will the availability of an affordable power supply. We expect the industry to enter in to a period of consolidation as large enterprise size mining operations managed by sophisticated professionals, will inevitably force out the home miner and Bitcoin mining hobbyist.