New York — Lancium Technologies Corp, a distributed computing and data center technology company, today announced an equity investment and debt financing from SBI Holdings Inc. of Japan. Funds will be used to accelerate the development of Lancium’s rampable data center solution. SBI also intends to expand its cryptocurrency mining footprint at Lancium data centers.
- SBI providing equity and debt funding to finance launch of Lancium’s proprietary ramping data center
- SBI to also become major Lancium customer to host its crypto-currency mining operations
- Lancium’s solution showcases potential for distributed computing to be carbon negative and facilitate the growth of more renewable energy
- Lancium’s data center offers a unique value enhancement to renewable energy projects
Lancium’s unique data center directly utilizes intermittent energy generated from wind farms to enhance returns for wind asset owners and unlock access to the lowest cost power on earth. This unique “win-win” solution supports the development of new renewable energy resources, while providing an exceptionally cost effective and carbon negative power source for distributed, interruptible computing.
Michael McNamara, Lancium’s co-founder and CEO, commented, “We are thrilled to welcome SBI as a major shareholder and customer. Our data centers will provide SBI with an exceptionally inexpensive and totally green solution that provides them the computing power they need. They share our desire to develop new markets for intermittent renewable resources, and provide sustainable, carbon-free energy solutions to our data center customers. We are excited about the opportunity to bring a new, high growth load to the renewable energy industry.”
SBI Holdings CEO, Yoshitaka Kitao, added, “The Lancium solution is a strategic investment for the SBI Group and will enable us to expand our crypto-currency mining business built on low-cost green energy. This is a win for all stakeholders as well as for Mother Earth.”
Lancium is a technology company creating software, technical solutions and energy infrastructure that together are decarbonizing the grid. Lancium strives to be the leader in green, low-cost infrastructure that will power the next generation of cryptocurrency mining and other distributed energy-intensive applications. Its solutions help ensure that renewable energy can power our future. Lancium has numerous issued and pending patents. For more information visit www.lancium.com, and follow Lancium on Twitter and LinkedIn.