After an official appointment with the Norway’s government, the Bitcoin mining Bitfury has revealed about their partnership with Norway and local enterprises.
The giant Bitfury Group that has offices in 8 cities: San Francisco, Washington, London, Iceland, Amsterdam Georgia, Hong Kong and Tokyo has officially announced about its new partnerships.
Bitfury partners with Norway for Bitcoin mining
The giant Bitfury is involved in producing the software and hardware needed for mining activities. With the new partnership, the company has established a new datacenter in Norway. Next, they plan to invest $ 35 million USD in order to expand their center and hire 30 people from the local environment of Mo I Rana.
The official announcement was revealed today, 20th March during a Press Conference in Norway.
“Norway is a perfect match for Bitfury’s focus on innovation and growth. We look forward to identifying new customer relationships and designing the products and solutions they need to make their enterprises run more securely and efficiently.”, stated the Bitfury’s CEO, Valery Vavilov.
Bitfury has taken into account the fact that it will have to take care about the environmental protection. Considering that mining activities consume a lot of electricity, the company has announced its decision to purchase “350 GWh of 1000% renewable energy annually” in order to support the sustainability of the project.
Norway supports the Bitcoin mining activities
If it’s to compare Norway with Japan, which has attracted the attention of the internauts through tax regulations imposed on cryptocurrencies, Norway’s regulation appears to be fairly open and allowable. Any investor and person holding crypto coins must pay a 25% tax on their profits. Another important aspect is that the losses can be recovered.
There are no other barriers in Norway to prevent involvement in crypto activities. Thus, Norwegian land is willing to exploration.
Bitfury was also welcomed by the Norwegian Trade and Industry Minister Torbjørn Røe Isaksen, who stated:
“I am delighted that the Bitfury Group has chosen to establish their new data center in Norway and Mo i Rana. Data will become an increasingly important resource for the business community as well as for society in general. This represents a major economic opportunity for Norwegian businesses. The datacenter industry is growing fast, and provides Norway with opportunities of economic growth and new jobs.”
What do you think about Bitfury’s new partnership?