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Bitcoin miner on journey to 1.4GW production buys US colocation power

Company looks to expand in Northern Europe, South America and Africa and add 1GW capacity in the following 18 months.

By João Marques Lima

Founder and Editor, The Tech Capital

2 Mins

October 21, 2021 | 10:39 AM BST

Crypto miner group Atlas Technology and digital infrastructure provider Compute North have signed a multi-year hosting service agreement under which Compute North will provide over 100MW colocation capacity for Atlas’ US mining operations.

The deal is similar to the one Singapore-based Atlas signed with Core Scientific earlier this month which also accounted for 100MW of colocation power.

Atlas, which has the long-term goal to be 100% carbon-free, is also exploring expansion into Northern Europe, South America and Africa to capitalise on the availability of renewable energy and vibrant workforces.

Raymond Yuan, Chairman of Atlas, said: “We are pleased to name Compute North as our trusted hosting provider and are committed to building a strong, long-term relationship.

“Atlas operates its mining business globally and highly values the partnership with local companies, like Compute North, who share our vision for sustainability and environmental responsibility.”

Dave Perrill, CEO at Compute North which operates three facilities in Texas, Nebraska, and South Dakota, added: “We are proud that Compute North’s focus on sustainable mining solutions factored into Atlas Mining’s decision to partner with us for its upcoming US deployment.

“Our pioneering TIER 0 data centre design creates significant cost efficiencies and establishes us as a critical partner to the overall stability of local power grids as they bring more renewables online.”

To date, Atlas has purchased more than 200,000 units of mining rigs and aims to continue this trend over the next few years.

The firm has contracted more than 400MW infrastructure capacity with local partners in different regions and plans to add 1GW capacity in the following 18 months.

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Founder and Editor, The Tech Capital

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