The Year 2021

The Year 2021

We are now near the end of 2021, a special year for most people with the pandemic dominating everyday life. The travel budget has been greatly reduced, and we have participated in fewer conferences and trade fairs than ever. Meetings with customers now occur digitally, using Teams and similar software in Norway and abroad.

Our industry has several concerns and challenges that differ from others affected by the pandemic. We are not to the same degree as affected by the pandemic as others but have faced different challenges. Although large parts of 2021 have been affected by Covid-19, the year has also offered several positives.

Growth in the number of employees

During 2021, we have welcomed six new employees in Norway; two in finance, three at our facility in Hønefoss, and Christoffer Roos in sales and marketing. He will represent and liaise for the company at conferences, data center fairs and in various other settings. We plan to continue increasing the number of employees and are looking forward to welcoming new assets to KryptoVault in the coming years.

Local contribution

We have contributed locally in 2021; among other things, we export the excess heat from our data center in Hønefoss to Varma and Nordry, which they use to dry wood. We are an export-based company and derive nearly 100% of our income from the international capital market, which comes from us producing a digital product that we export out of the country. We are then left with direct capital contributions that become a part of the Norwegian economy. We have provided surplus heat from our production to other companies for free. In 2021, the excess heat we provided has created 7-8 new jobs at Varma.

We are constantly finding new areas to reuse the heat; we use the power twice in several cases, which indirectly has created jobs and reduced our carbon footprint to the point where it is negative.

Secure financing

In 2021, we have operated to secure our income and revenue. We have invested in upgrading our facilities, which has been costly but necessary to ensure our future for years to come.

New and existing projects

  • We have continued to work on the data center at Kilmoen in Hønefoss, an HPC data center that is very prestigious, something we are proud of. This has been going on all year and is expected to be finalized by next year.
  • We received a new assignment with Telia in Lithuania after our project with them in 2020. They were so pleased that we got a new project to be implemented now.

2021 has been a good year for KryptoVault, apart from the year-end electricity prices and the slightly abnormal everyday life marked by a pandemic. We have substantially increased our turnover and are ambitious for further growth in 2022. With that, we want to wish you a Merry Christmas and a Happy New Year.