Arcane Green Data enters agreement with Luxor Technology Corporation and goes live with current hosting capacity

Arcane Green Data enters agreement with Luxor Technology Corporation and goes live with current hosting capacity

Stockholm October 19, 2021 – Arcane Crypto’s wholly owned subsidiary Arcane Green Data Services AS (“Arcane Green Data”) has entered into an agreement with US-based Luxor Technology Corporation (“Luxor”) regarding the sale of computing power for mining operations. Arcane Green Data’s current hosting capacity of 1.25 MW is now fully utilized.

On 28th June 2021, Arcane Green Data signed a leasing contract for hosting miners and thereby took the first step in establishing a bitcoin mining operation. The lease agreement for Arcane Green Data’s hosting capacity for bitcoin miners totaled 2.5 MW. Arcane Green Data will invest in additional mining equipment and expects that the full capacity of the 2.5 MW will be utilized by bitcoin miners in Q1 2022.

At current market conditions (bitcoin price of 61,000 USD and total market hash rate of 145 EH/s), Arcane Green Data will generate around 4 MSEK in monthly revenue at the current capacity of 1.25 MW.

“It is a pleasure to be working with Luxor given their expertise in building infrastructure for digital assets. Arcane Green Data is already a highly profitable venture, and we expect to double our hosting capacity in Q1 2022. We remain committed to securing the bitcoin blockchain in the cleanest way possible, with renewable energy,” says Torbjørn Bull Jenssen, CEO of Arcane Crypto.

Alex Brammer, VP of Business Development at Luxor commented “We are excited to grow our European footprint with Arcane Crypto. Arcane’s expansion into the mining space is a great complement to the value they are adding across different verticals within the crypto industry, and we are honored to be a strategic partner on their mining initiative.”

For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
E-mail: ir@arcanecrypto.no

About Arcane Crypto
Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain of digital finance. As a group we deliver services for payments, investments, and trading. In addition, we have a media and research division.

Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.

The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se, web: www.mangold.se.

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.

Arcane Crypto signs leasing contract for hosting of bitcoin miners, taking the first steps to establish a bitcoin mining business unit branded Arcane Green Data

PRESS RELEASE: Arcane Crypto signs leasing contract for hosting of bitcoin miners, taking the first steps to establish a bitcoin mining business unit branded Arcane Green Data

Arcane Crypto AB’s wholly owned subsidiary Arcane Green Data Services AS (under formation, “Arcane Green Data”), has today entered into a lease agreement for hosting capacity for bitcoin miners of up to 2.5 MW (the “Lease Contract”). The signing of the lease contract is a first step in forming a bitcoin mining business unit within Arcane Crypto, branded Arcane Green Data, and in line with Arcane Crypto’s strategy to develop and invest in projects focused on bitcoin and digital assets.

The lease contract for hosting of bitcoin miners has a start-up divided between August and Q1 2022 and is done at market terms for such hosting. It has a duration of three and a half years with an option to extend the contract for further two years.

The signing of the lease contract is a preparational step for the formation of a bitcoin mining business unit within Arcane under the brand Arcane Green Data. Arcane is currently negotiating acquisition of mining equipment, as well as finalizing the strategy of Arcane Green Data. The initial investment is expected to be completed without any need for Arcane to raise equity. Arcane will revert with further information regarding the strategy of Arcane Green Data once it has been resolved by the board.

“As China is turning away from bitcoin mining, the mining industry as a whole is becoming increasingly green and a driver for renewable energy around the world. Now is excellent timing for Arcane to enter into this segment,” says Torbjørn Bull Jenssen, CEO or Arcane. And he continues “Mining is a very interesting business stand alone, and it also has considerable synergies towards our other investments and business. I am looking forward to finalize the strategy for Arcane Green Data and present it in more detail for our partners and investors.”

For further information, please contact:

Torbjørn Bull Jenssen, CEO, Arcane Crypto AB

E-mail: ir@arcanecrypto.no

About Arcane Crypto

Arcane Crypto develops and invests in projects, focusing on bitcoin and digital assets. Arcane operates a portfolio of businesses, spanning the value chain for digital finance. As a group we deliver services targeting payments, investment, and trading. In addition, we have a media and research division.

Arcane has the ambition to become a leading player in the digital assets space by growing the existing businesses, invest in cutting edge projects, and through acquisitions and consolidation.

Subscribe to press releases and financial information: https://investor.arcanecrypto.se/

For more information, please visit: https://www.arcane.no/

This information is such information Arcane Crypto AB is obliged to make public in accordance with the (EU) Market Abuse Regulation 596/2014. The information in this press release has been made public through the agency of the responsible person set out above for publication at the time stated by Arcane Crypto’s news distributor Bequoted at the publication of this press release. The responsible person above may be contacted for further information.

The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se, web: www.mangold.se.

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Disclaimer
All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.


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