Hydro66 Increases Crypto Hashing Power by 40%

Now at 1.75 MW of equipment with 90% dedicated to Bitcoin

Boden, Sweden--(Newsfile Corp. - May 21, 2019) - Hydro66 Holdings Corp. (CSE: SIX) (OTCQB:HYHDF) ("Hydro66" or the "Company") is pleased to announce that it has purchased an additional 0.5 MW of ASIC crypto equipment to operate in its award-winning data center. Prior to this purchase, the company had been operating 1.25 MW of ASIC and GPU equipment.

Hydro66 selectively purchases GPU and ASIC equipment as algorithm difficulty and pricing of computing equipment, combined with in-house analysis, suggests a substantial opportunity to generate cash flow. The Company recently identified such a window and was able to make this additional purchase of equipment just prior to the significant upward move in Bitcoin price. Hydro66 anticipates that the investment will have a rapid payback and will generate substantial positive cashflow over the investment horizon.

Hydro66 also provides colocation facilities for wholesale crypto customers and has seen an uptick in new inquiries, along with the resumption of mining from existing customers.

The Company has built a 19.2 MW data center facility with the ability to expand to 40 MW and an option for an additional 40 MW on an adjacent site. The power cost is among the most competitive in the EU and the facility has been designed and built with efficiency in mind, boasting an industry leading Power Usage Efficiency (PUE) of 1.07. The Company is employing a three-pronged strategy consisting of Enterprise colocation for High Performance Computing and both direct and wholesale cryptocurrency operations.

Alex Johnstone, incoming CFO, commented, "Hydro66 are delighted to be able to make the investment to expand our ASIC capacity and to take this step reaffirming our commitment to the sector."

FOR MORE INFORMATION, PLEASE CONTACT:

Paul Morrison
Chief Commercial Officer of Hydro66 UK Limited
[email protected]

or

Jason Atkinson
Director of Corporate Development
[email protected]

About Hydro66

Hydro66 owns and operates an award-winning colocation data center in Sweden specializing in High Performance Computing ("HPC") hosting. The Company hosts third party IT infrastructure, utilizing 100% green power, at amongst the EU's lowest power prices and within an ISO27001 accredited facility.

Hydro66 is uniquely positioned to capitalize on opportunities in blockchain infrastructure as well as the traditional Enterprise colocation data center market. The Company provides truly green power at a leading price, purpose-built space and cooling, telecoms, IT support services and 24/7 physical security in their facility in Boden, Sweden. www.hydro66.com

Forward-Looking Information

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company's annual and quarterly management's discussion and analysis filed at www.sedar.com. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44887