Russian data company investing in bitcoin operation in Hedmark

Bitcoins bitcoinCoins are displayed next to a Bitcoin ATM in Hong Kong. The launch of a U.S. futures contract for bitcoin on Sunday, Dec. 10, 2017, underscores the virtual currency's increasing mainstream acceptance, including in many parts of Asia, where it already has a wide following among speculators and investors. (AP Photo/Kin Cheung)

A Russian data company will invest heavily in the digital currency bitcoin and will invest close to $ 1 billion on data servers located in Alvdal in Hedmark.

The first machines will be in place already in February next year, and the server park will then expand in the next year.

“We live in the midst of a technological revolution and must position ourselves towards a technological future,” says Arild Løvik in Nordavind DC Sites to NRK.

Nordavind DC, which will build the data centers, is owned by several municipalities and power companies in Hedmark county.

The Russians have found that Alvdal and Tynset are the perfect location to place the powerful data servers as they can offer a cold climate sheltered for natural disasters and with a well-developed fiber network.

In addition, it benefitted the Norwegians that they quickly responded to the request from the Russians while providing enough renewable energy.

The company New Mining Company aims to create 10-15 jobs in 2018 and up to 50 jobs in 2019. The company will invest around 30 million euros next year and another 75 million euros in 2019.


© NTB Scanpix / Norway Today