Business
Uniserve To Host Large Scale Cryptocurrency Mining Facility in Vancouver
Vancouver, British Columbia--(Newsfile Corp. - October 31, 2017) - Uniserve Communications Co...
About this update from Uniserve Communications Corporation
[{"type":"text","content":"Uniserve To Host Large Scale Cryptocurrency Mining Facility in VancouverVancouver, British Columbia--(Newsfile Corp. - October 31, 2017) - Uniserve Communications Corporation (TSXV: USS) (the \"Company\") is pleased to announce their signing of an agreement with a privately held organization ( the \"Miner\") to host a large-scale cryptocurrency mining facility, with the mission to become the preeminent cryptocurrency miner in Canada. The Company's Vancouver Data Centre will be expanded to accommodate this anchor tenant, headquartered in New York. The success with the agreement came from a combination of the cost of available power in their Vancouver location, as well as their ability to lift, shift and install product. A secure monitoring platform, enabling the client to dial in remotely, was also a key factor. The Company will also be providing Managed Services to the client. The expansion and fit out of the Data Centre is well underway and the test development site will be up and running by the first week of November.Nicholas Jeffery, CEO of Uniserve stated: \"The cost of power is a significant driver for the hyper-scale cloud and the cryptocurrency vertical, and having access to some of the lowest electricity rates in Canada contributed to Uniserve being selected by the Miner. But also, our global experience in the Data Centre space, and the ability to design the infrastructure to the Miner's specific needs was also a distinct advantage. The Miner is expected to ramp up to large-scale mining rapidly, resulting in significant power consumption in the 10's of megawatts, with plans to reach 40 MWs by 2020.\"According to Techcrunch.com, one of the leading online media sources, the market valuation for cryptocurrencies has increased to over $177B USD as of October 30, 2017, and continues to grow. Jeffery added: \"Canadian industry has had several failed attempts to host this type of business, and has unfortunately let those opportunities go to Iceland or other locations in Europe instead. This is unfortunate as it is a very significant vertical market. We believe we can create a magic formula of service, cost of power, infrastructure build, and speed to market, that going forward, will attract and capture a significant percentage of the overall world demand.\"About UniserveUniserve is a unified communications company that has been...