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Screenshot of a breaking news alert e-mail from Q2 2017
BitFury Group, provider of Bitcoin Blockchain infrastructure and transaction processing services, has just unveiled plans to build a mega data center in the Republic of Georgia. The center will be located in Gldani District in Tbilisi, where the company has acquired a privatized 185,000 sq. m land plot from the Georgian National Agency of State Property to develop the Georgian Technology Park project.
BitFury will be the first tenant in the Technology Park where it will construct the data center with up to 100 MW energy capacity to process transactions using its latest generation 28 nm and the upcoming 16 nm ASIC chips.
The new project will take full advantage of the proprietary immersion cooling technology enabled by Allied Control, a developer of immersion cooling tech, which BitFury acquired in January this year. The company has developed its third generation immersion cooling system to create energy-saving data center cooling systems for high performance computing applications.
The CEO of BitFury Valery Vavilov commented: “We are pleased to commence our new project in the Republic of Georgia which envisages the development of the special technology zone with the aim of attracting international technology players, as well as building our latest mega data center. Our investment decision was made based on our previous experience of doing business in the Republic of Georgia. Our current data center located in Gori in Georgia, which was developed in cooperation with Georgian Co-Investment Fund, proved to be a major success, and as a result, we saw further potential in continuing doing business and investing in this country.”
BitFury currently has two data centers: in Iceland and the Republic of Georgia (in Gori). The company says it picked Georgia because of the country’s attractive investment climate and ease of conducting business. Low energy costs and competitive labor market have also played big part in the decision-making.
You may recall BitFury’s name from LeapRate’s article from March this year, when we informed you of a very interesting addition to the company’s ranks. Back then former head of the U.S. Justice Department’s criminal division Jason M. Weinstein joined BitFury as an adviser.
To view the official announcement, click here.