KnCMiner, a Swedish bitcoin mining company revealed that they take up to four weeks to build a new datacenter, from breaking ground to beginning operations.
According to the chief executive officer of the company Sam Cole, the longest part is signing the agreement.
The company announced its plans to build another 20 MW data center in the Swedish town of Boden which is part of the “Node Pole” technology center where Facebook has built one of its most energy- efficient datacenters.
KnCMiner is on an aggressive expansion spree at the moment, as the announcement comes only after six months of rolling out their previous data centers.
One of the reasons that they can get things done really fast is that the company does not need to worry about air conditioning.
The “Node Pole” which is very close to Arctic Pole, over there the cold air is plentiful.
KnCMiner explained that while the contractors are busy building the data center, the staff of the company are installing and powering up the first rack of Bitcoin miners.
The high rate of which KnCMiner are building is showing up in a big way on the Bitcoin Mining Pool Chart. Last year, KnCMiner reported a global hash rate of 7% and plans to have at least a 20% of the global hash rate.
Sam Cole stated, “We have the planet’s most efficient bitcoin cloud mining operation. Our Clear Sky farms in the polar region takes advantage of locally produced renewable hydro- power and the surrounding arctic air to achieve industry- leading efficiency.
This set- up rewards us the opportunity to sell powerful bitcoin mining monitored with no hidden fees at all.”
On June 2015, the company installed a latest 16 nm bitcoin ASIC, which they described to be a “game changer” for the entire crypto currency industry.
The latest 16mn is said to be six times faster than the previous 28nm model.
Cole further stated, “When we don’t have these customers buy our hardware it becomes a different model. It becomes much easier, much more open, and much more honest.
There’s still going to be $2 billion, at today’s price, mined in the next few years. That’s a lot of cash that’s up for grab, and we’re going to do our best to take a decent chunk of it.”
KnCMiner’s game is bitcoin mining, the process of validating successive blocks of data in the blockchain, the distributed ledger used to record bitcoin transactions, by calculating a cryptographic hash.