Datacentre company DC Two moving into providing services to crypto miners

Datacentre and cloud computing company DC Two (ASX:DC2) has signed a five-year, $926,376 deal to provide services to a cryptocurrency miner and sees more opportunity in that space.

DC Two will provide the miner with 176kw of power from its Mid-West data centre in Western Australia, which is located on an operational wind farm, as well as floor space, internet connectivity, equipment and internet connectivity.

The customer is providing and managing their own servers and mining equipment.

Bitcoin and certain other cryptocurrencies secure their network through a process called “proof of work”, in which miners expend electricity and computing power in exchange for new tokens. This ensures the network remains decentralised and prevents it from being hijacked by bad actors.

DC Two said it sees a potential commercial opportunity to securing more crypto miners as customers, with its data centres located “behind the meter” at renewable power sites with competitive power prices.

The company says it will begin a small marketing campaign targeting people interested in the sector.

“As Bitcoin and the digital currency sector grows and becomes more mainstream, what used to be fringe or niche is gradually becoming a normal day to day activity,” said DC Two managing director Justin Thomas.

“Furthermore, while our corporate and commercial focus will remain on securing large scale enterprise customers for our Bibra Lake data centre, the low cost and eco-friendly attributes of our modular data centres have opened up this new market for the company.”