Why is renewable energy important in the data center business?
Close to the power source
We are building data centers close to the power source, resulting in more efficient usage of the power.
There are no bottlenecks on the power supply itself. However, there is a potential bottleneck on the distribution of the power. Therefore, we gain environmental advantage and economic and capacity advantages for the rest of the power grid.
We have a limited co2 carbon footprint which we always need to respect. This could be directly linked to potential investors’ will to invest. Also, there is only a certain amount of bitcoin each day distributed on the active parties.
This means that the more we are mining in Norway, the less activity there will be in other countries. Ultimately, the less coal and other environmental-hostile activity there will be.
Contribution to local businesses
Kryptovault has begun to look at possibilities to contribute to the local industry. For example, in our project at Hønefoss, we send our heated air to a wood factory for wood drying. We do not earn anything on this, but we contribute locally, which is important to us.
Kryptovault has been a pioneer by introducing the data center business in Norway. By our initiative, more has come, and many more will follow, using Norway’s renewable energy, preventing this industry from expanding in countries exercising non-renewable energy.
Our initiative also brings new international capital to Norway from other data center companies. This is capital that goes directly into the Norwegian community.