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TMCNet:  Digital CC Limited: Green Energy Contract Signed to Secure Significant Savings in Operating Costs

[August 27, 2014]

Digital CC Limited: Green Energy Contract Signed to Secure Significant Savings in Operating Costs

PERTH, Australia --(Business Wire)--

Digital CC Limited (trading as digitalBTC) (ASX: DCC) (the "Company" or "digitalBTC") is pleased to announce the Company has executed a multi-year hosting and power supply agreement with Verne Global, an innovative, UK-based developer of power conscious data centre campuses. The agreement covers approximately half of digitalBTC's power needs at Verne Global's dual sourced, 100% renewable powered data centre campus in Iceland.

Highlights:

  • Significant saving on power costs, up to 40% cheaper than some of the Company's previous arrangements, and will cover approximately 50% of power needs.
  • Will help increase the return on investment from Bitcoin Mining Operations, with power expense representing the most significant portion of the operating cost of Bitcoin Mining.
  • Will extend the useful life of the hardware, as lower operating costs will allow Bitcoin Mining to remain economic for a greater period of time on earlier generations of hardware.
  • Dual sourced renewable green energy will realise significant reductions in carbon footprint, as well as additional room to grow.

digitalBTC Executive Chairman, Zhenya Tsvetnenko, said that the agreement would support the Company's Bitcoin mining operations by securing a long term, stable cheap source of green power.

"Verne Global has built a truly world class data centre campus in Iceland, and we are very pleased to secure a long term position in their facility," said Mr Tsvetnenko.

"As well as basing our operations on clean renewable energy, we are also able to drive significant powr cost reductions, which will flow straight through to our bottom line, and significantly reduce our carbon emission through the use of green energy," said Mr Tsvetnenko.


"Additional power is very hard to secure in many locations, where the capacity has already been reached. The contract with Verne however gives us room to grow, with a long term secure source of power we can factor into our decisions on further potential expansions," said Mr Tsvetnenko.

Verne Global's dual sourced renewable power comes directly from the country's hydroelectricity and geothermal grid, offering an affordable fixed price supply, with a redundant link to Iceland's National Transmission system. The Verne Global data campus utilises free-cooling, by using the naturally low temperature outside air to cool running servers. This eliminates one of the traditional power hungry elements of a data centre - the powerful air-conditioning units ("chillers") required to cool down operating servers. In Iceland, this cooling comes for free from the naturally windy and cool conditions.

digitalBTC has now largely transitioned to full internal management of the Company's Bitcoin mining operations, and the direct long term contract with Verne Global will assist by securing long term space in a world class data campus.

Verne Global CEO, Jeff Monroe, says "digitalBTC's status as the first virtual currency company listed on a major exchange shows their business model and value to the market has clearly been recognised by the industry."

"Digital currency is moving into the mainstream and it's clear that digitalBTC is making sound business decisions that indicate they will be a significant player for years to come. Their choice in our data centre campus keeps them well-positioned for managing their power needs" adds Monroe.

About Verne Global:

Verne Global is developing the data centre industry's first carbon neutral data centre campus. Verne's mission is to develop data centres in optimised geographic areas that offer companies the best total cost of ownership and 100% renewable power without a price premium. Currently in the first stage of development, Verne Global is constructing a 44 acre campus on the former NATO Command Centre in Keflavik, Iceland. With Iceland's favourable natural attributes and renewable energy resources, Verne Global can save customers as much as $100 million in ten years on energy costs alone. For more information, please visit http://verneglobal.com.

Further information and details may be found at: http://www.verneglobal.com/resources/downloads-and-media-kit


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