The crypto data center is the first of a kind in Sweden, and the country’s flourishing renewable energy sector could be the best reason for it.
Sweden has created a buzz in the crypto space with a recent development regarding a crypto firm. Genesis Digital Assets Limited, one of the biggest Bitcoin mining companies, has opened a crypto data center in the country. But, the matter does not end here. The data center will be powered by renewable energy, making it a unique operation.
The renewable energy sector of Sweden could also have influenced Genesis Digital Assets (GDA) in making the decision. The center would be located in the northernmost part of Sweden. It would be strategically near the Porjus Hydroelectric Power Station for all its energy needs.
Past reports have claimed that Sweden produces all its energy from renewable sources. Nordic countries like Norway, Sweden, and Finland produce surplus energy, mostly from clean sources. It is the most likely reason for GDA’s new center.
It was further confirmed by GDA’s Nordic Head, Tim Carra, who said, “With abundant energy sources, a pro-innovation environment, and a strong educational system that results in a great culture of innovation, we believe that Sweden is one of the best countries in the world where to mine Bitcoin and expect to further invest in this beautiful region moving forward.”
The press release by GDA was bullish on the Nordic region’s potential for catering to the crypto industry.