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Arcane announces mining partnership with Bitzero

Stockholm, 13 June 2022

Arcane Green Data Services, a wholly owned subsidiary of Arcane Crypto, has entered into a hosting agreement with Exanorth, a subsidiary of Bitzero Blockchain Inc. ("Bitzero"). Arcane will relocate its bitcoin mining equipment to their facility in Northern Norway (electricity price sone, NO 4). Arcane retains full ownership of the equipment which will be fully managed by Bitzero.

After the move, which is expected to be finalised by end of month, Arcane Green Data will generate approximately 24 BTC per quarter at current market conditions. Gross margin is expected to be above 70%, also given current market conditions.

Torbjørn Bull Jenssen, CEO of Arcane Crypto says, "I am excited about our partnership with Bitzero. Their commitment to securing the bitcoin blockchain in the cleanest way possible, with renewable energy and heat capture, aligns well with our own ambitions.  Bitzero is a global leader when it comes to developing green data centres, and we are looking forward to working with them and explore further opportunities for collaboration."

Akbar Shamji, Founder & CEO of Bitzero, said, "The partnership with Arcane aligns our core focus to innovate in the blockchain space, whilst building ESG focussed datacentres.  Our concurrent green Bitcoin mining operations perfectly synergise with Arcane, with whom we are excited to collaborate."

For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
e-mail: ir@arcanecrypto.no
web: investor.arcanecrypto.se

About Bitzero
Bitzero is a privately held Canadian company whose operations are focused on the designing, building, and operating of ESG focussed data-centres. Bitzero mines green Bitcoin for its own account and also hosts third party servers at its datacentres, within a zero-carbon displacement (ZCD) ecosystem.  Bitzero is focused on blockchain innovation and global data hosting, in harmony with its host communities.

About Arcane Crypto
Arcane Crypto develops the infrastructure and products that enable worldwide adoption of bitcoin and digital assets. Arcane is building a platform for users to learn, trade and invest in digital assets, all from one account. Our market leading research content educates our users and builds trust. Arcane achieves scale by providing a platform with open APIs, allowing third parties to develop their own products using our technology and then distribute their product to our users.

Subscribe to press releases and financial information: https://investor.arcanecrypto.se/

The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser, tel. +46 8 5030 1550, e-mail: ca@mangold.se, web: www.mangold.se

Files for download
2022-11-22
Regulatory

In parallel Arcane has initiated a strategic review of its investment and venture business to exploit current market opportunities.

2022-11-08
Regulatory

Third quarter of 2022 (compared to third quarter 2021)

  • Group revenue decreased to 52,186 kSEK (81,166)
  • EBITDA amounted to -7,336 kSEK (-6,059)
  • EBIT amounted to -12,703 kSEK (-8,105)
  • The result for the period amounted to -13,290 kSEK (-7,766)
  • Earnings per share before dilution amounted to SEK -0.002 (-0.001) and after dilution to SEK -0.001 (-0.001)
2022-08-23
Regulatory

Second quarter of 2022 (compared to second quarter 2021)

  • Group revenue decreased to 84,755 kSEK (100,372)
  • EBITDA amounted to -20,604 kSEK (-1,484)
  • Adjusted EBITDA -9,704 kSEK (-1,484)
  • EBIT amounted to -55,740 kSEK (-2,547)
  • The result for the period amounted to -56,272 (-7,056)
  • Earnings per share before dilution amounted to SEK -0.007 (-0.001), and after dilution to SEK -0.006 (-0.001)
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