Cryptocurrency Mining Facility Vancouver, British Columbia–(Newsfile Corp. – October 31, 2017) – Uniserve Communications Corporation (TSXV: USS) (the “Company”) is pleased to announce their signing of an agreement with a privately held organization ( the “Miner”) to host a large-scale cryptocurrency mining facility, with the mission to become the preeminent cryptocurrency miner in Canada. The Company’s Vancouver Data Centre will be expanded to accommodate this anchor tenant, headquartered in New York. The success with the agreement came from a combination of the cost of available power in their Vancouver location, as well as their ability to lift, shift and install product. A secure monitoring platform, enabling the client to dial in remotely, was also a key factor. The Company will also be providing Managed Services to the client. The expansion and fit out of the Data Centre is well underway and the test development site will be up and running by the first week of November.
Nicholas Jeffery, CEO of Uniserve stated: “The cost of power is a significant driver for the hyper-scale cloud and the cryptocurrency vertical, and having access to some of the lowest electricity rates in Canadacontributed to Uniserve being selected by the Miner. But also, our global experience in the Data Centrespace, and the ability to design the infrastructure to the Miner‘s specific needs was also a distinct advantage.The Miner is expected to ramp up to large-scale mining rapidly, resulting in significant power consumption in the 10’s of megawatts, with plans to reach 40 MWs by 2020.“
According to Techcrunch.com, one of the leading online media sources, the market valuation for cryptocurrencies has increased to over $177B USD as of October 30, 2017, and continues to grow. Jeffery added: “Canadian industry has had several failed attempts to host this type of business, and hasunfortunately let those opportunities go to Iceland or other locations in Europe instead. This is unfortunate as it is a very significant vertical market. We believe we can create a magic formula of service, cost of power, infrastructure build, and speed to market, that going forward, will attract and capture a significant percentage of the overall world demand.“
Uniserve is a unified communications company that has been in existence for over 28 years, combining voice, data and media, all into one seamless solution. One invoice and one point of contact in Canada, spread across 13,000 customers serving the Residential / Small Office / Home office and Enterprise markets.
A strong Managed Services and Data Centre team have been in place for over eight months, coming from Digital Reality, CBRE, Radiant and Xanity Cloud. The recent acquisition of Glenbriar completes the Managed Services portfolio with offices now across Canada.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
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