One of the most important factors
when it comes to mining
is where you do it.
You need to pay attention to several aspects:
Infrastructure, electricity costs, climate, political stability.
There's several hotspots for mining worldwide
But because we want to stay ahead of the market
we are constantly scouting new locations.
In the past few years we've mastered this process
and Sweden is one of the results of those efforts.
When we scouted for locations quite a while ago
before we started building this farm
we noticed that here in Sweden many great factors come together
to make it a really great mining location.
First of all, the political system is very stable
and welcoming to cryptocurrencies
and cryptocurrency mining.
Also the general infrastructure is very well built out,
Sweden has great roads, great airport infrastructure,
it's in the EU, so imports and exports are kind of easy to handle.
Internet connectivity is great, everything is very well connected,
glass fiber and all the good stuff...
A very important topic when you are building a data center
is how the cooling is going to work.
Sweden has a very mild and quite cold climate
so it's great to build a cooling system with it.
and last but not least, the power here is very good.
This farm is completely hydropowered
which actually is not so much of a surprise.
Usually renewable energy sources are quite plentyful,
so when you are starting a cryptocurrency mining operation
or anything else that uses a lot of power,
being close to a renewable energy source
for example a hydropower dam
is extremely beneficial.
Because when there's a lot of power and the price of power is good,
that's where cryptocurrency miners also want to be.
We're really happy to do this video now
about our new Sweden operation
and we're really proud to show it.
We're usually not quite that open
about our mining locations.
We've shared a lot of footage about our Iceland location.
Obviously we have a lot of other locations also worldwide
that we don't talk about quite so publicly.
I'd quickly like to point it out why that is.
Please understand that we have to walk a fine line
between showing our facilities and keeping them secret.
On the one hand we want to be as open and transparent
about our operations as possible,
to show people what we are doing, to show our customers
what they are actually putting their money  towards,
just to give a general impression to people
what cryptocurrency mining is all about.
So we think of it as an educational aspect
and as a trust building aspect also,
so we can show people what we're all about.
On the other hand we need to be careful
about protecting our intellectual property.
We need to worry about people stealing our ideas
and copying them for themselves.
We need to worry about our efforts spent towards some technology
or some infrastructure improvement or something
just being ripped off and we're loosing the benefit we get from that.
We also need to worry about security aspects.
If we show people all the locations that we're at,
we'll have people knocking on our door asking for free tours.
And that has actually happened in Iceland, by the way.
That actually does happen, people knock on our gates and they ask to come in.
They can't come in, but they still come.
And we obviously don't want that extra security concern
on too many other locations.
The most secured site is when no one knows about it, of course.
