Arcane Crypto signs rental agreement for hosting bitcoin miners, taking first steps to establish a bitcoin mining business unit under the Arcane Green Data brand
The rental agreement for hosting bitcoin miners has a split start between August and Q1 2022 and is concluded on market terms for such hosting. It has a duration of three and a half years with an option to extend the contract by two years.
The signing of the lease contract is a preparatory step for the formation of a commercial bitcoin mining unit within Arcane under the Arcane Green Data brand. Arcane is currently negotiating the acquisition of mining equipment, as well as the finalization of the Arcane Green Data strategy. The initial investment should be made without Arcane needing to raise equity. Arcane will come back with more information regarding Arcane Green Data’s strategy once it has been resolved by the Board of Directors.
“As China turns away from bitcoin mining, the mining industry as a whole is getting greener and a driver for renewables around the world. Now is the time for Arcane to enter this segment, ”said Torbjørn Bull Jenssen, CEO of Arcane. And he continues: “Mining is a very interesting business in its own right, and it also has considerable synergies with our other investments and businesses. I look forward to finalizing Arcane Green Data’s strategy and presenting it in more detail to our partners and investors. ‘
For more information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
Email: [email protected]
About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of activities spanning the digital finance value chain. As a group, we offer services targeting payments, investing and trading. In addition, we have a media and research division.
Arcane aims to become a leading player in the field of digital assets by developing existing activities, investing in cutting-edge projects, and through acquisitions and consolidations.
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For more information, please visit: https://www.arcane.no/
This information is information that Arcane Crypto AB is required to make public in accordance with Regulation (EU) on market abuse 596/2014. The information in this press release has been made public through the responsible person indicated above for publication at the time indicated by the news distributor of Arcane Crypto Bequoted on the issuance of this press release. . The above responsible person can be contacted for further information.
The company is listed on the Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: [email protected], Internet: www.mangold.se.