Stockholm IT Ventures AB, SE0006027546

Stockholm IT Ventures AB, SE0006027546

15.02.2018 - 14:04:49

Stockholm IT Ventures AB: STOCKHOLM IT VENTURES LEASES NEW HYDRO POWERED ENERGY SPACE FROM COLABITOIL FOR CLEAN ENERGY CRYPTOCURRENCY MINING

STOCKHOLM, SWEDEN (15 February, 2018) - Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB), a Swedish technology company specialising in clean and efficient low-cost energy cryptocurrency mining, today announced its subsidiary, Block Trade Technology Ltd, has entered into a long-term lease agreement with Colabitoil Sweden AB (AktieTorget: COLAB), a Swedish company specializing in renewable fuels.   This deal underscores Stockholm IT Ventures' commitment to partnering with the leading authorities in green energy solutions and technologies for cryptocurrency mining and production. Colabitoil has been a driving force in the manufacturing of renewable fuels, and the leading developer of renewable diesel HVO in Sweden since the company was founded in 2013. The Nordic region offers a unique and robust environment for cultivating and producing clean and efficient energy mining.   "This partnership further strengthens Stockholm IT Ventures' position as a solid partner for existing cryptocurrency miners looking to relocate. The relocation of servers from unaccommodating crypto domiciles to the clean energy friendly country of Sweden is a strong trend we predicted months ago, and now it is now a reality," said Anthony Norman, CEO, Stockholm IT Ventures.   The agreement was signed on February 9, 2018 with residence to begin on March 1, 2018. The leased space will accommodate 1880 servers and three MW of power in the first phase with additional build out planned over the next three to six months. The infrastructure allows Stockholm IT Ventures to use up to 20 MW from the grid.   "We welcome Block Trade Technology Ltd as a tenant. We look forward to keep developing our sustainable business by recycling of surplus heat and create job opportunities in the area. The agreement completes our ambition to lease current available premises in Norrsundet, Sweden." says Jan Nordlöf, CEO at Colabitoil Sweden AB.  About Stockholm IT Ventures AB Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company focuses on clean and efficient low-cost energy cryptocurrency mining and production, and in blockchain related technology. All mining activities shall use clean and sustainable energy from hydro power stations in Northern Europe, requiring up to 80% less energy compared to ordinary mining for Bitcoin. The Stockholm IT Ventures stock represents a green investment in cryptocurrency technology. For more information, visit www.stockholmit.co. You can also find them on Facebook, Twitter and LinkedIn.    About COLABITOIL SWEDEN AB Colabitoil is a Swedish public company listed on AktieTorget. The company  was founded in 2013 with the vision of manufacturing and market renewable fuels. From Norrsundet, Mid Swedens logistics hub, the company supplies companies and consumers with fossil-free fuels. The supply of goods and services enables customers to reduce their carbon footprint by combining high quality renewable fuel products with good service. The company is leading the development of renewable diesel HVO in Sweden. The company has three subsidiaries; real estate, production and tank facilities. For more information, visit www.colabitoil.com   # # #    Media Contacts:   Vibrate Communications for Stockholm IT Venturesleslie@vibratecommunications.comtyrone@vibratecommunications.com     For Colabitoil Daniel Arenholm Head of Communications, Colabitoil AB.daniel.arenholm@colabitoil.com        

15.02.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Stockholm IT Ventures AB Vikdalsgränd 10A 131 27 Nacka Strand

Sweden Phone: +44 207 148 6262 Internet: www.stockholmit.co ISIN: SE0006027546 WKN: A116BG Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange   End of News DGAP News Service

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