01 logo

Carbon neutrality and purchase of up-to-date technical resource are two components of White Rock Management’s success

I am often asked two questions. The first is how, with the decline in the cryptocurrency exchange rate and the rising cost of energy resources, is it possible not just to maintain a profitable business, but also to develop it by opening new data centres? Second, how does White Rock Management do business in Sweden? In fact, there is one answer to these two questions. I will explain in detail the situation on the market, using the example of our company and the data centre in Sweden.

By Serhiy TronPublished about a year ago 3 min read
Like

Crisis is an opportunity

The bear trend in the cryptocurrency market continues. Compared to last year, the price of bitcoin has fallen by 70%. Against this background, many miners are selling off their equipment. For some companies, this is the only way to pay off debts and avoid bankruptcy. In some cases, equipment is sold 77% cheaper than it was purchased.

The Wall Street Journal gives specific statistics: a farm now sells for $24 for 100 terahashes, although last year it cost $106. In other cases, they are selling brand new equipment. For example, last week Argo Blockchain PLC said that it would sell 3,800 new machines that had not even been unpacked after purchase.

Any market forms and becomes stable by going through shocks. Someone’s victories and leadership are always someone else’s defeat. It is not only the law of the market, it is the law of conservation of energy, the law of creation. The void that arises after the departure of less successful participants is occupied by more successful and far-sighted investors. That is why it is more correct to call the current situation not a market decline, but its formation. Mining is still profitable for companies that have no debts and have a clear development strategy.

I am glad that White Rock Management is able to stay among the market leaders, be on trend and expand. Now we have the opportunity to buy the best modern equipment at a huge discount to open new data centres. For a minimum price, we get the opportunity to work with maximum efficiency.

Carbon neutrality and the right location are the key to success

Our company opened one of these centres in Sweden. For the first time, White Rock Management used modular build designs that allow data centers to be deployed relatively quickly, while the use of the latest equipment from the world's leading brands greatly speeds up the mining process.

We have chosen a region in Sweden with low energy costs, a skilled local workforce, and we work on renewable energy, this being important and prioritized. We use the hydroelectric power plant on the Lule River. The same region became Facebook’s first European data centre office and the location of 150 other major international companies, including NASDAQ and Amazon Web Services.

Another White Rock Management office is located in the Brazos Valley in the United States. If the business in Sweden is carbon-neutral, in the state of Texas we convert flare gas into power.

The flare gas itself is a byproduct that is produced when oil is burned. According to the World Bank, global gas flaring will reach 150 billion cubic meters in 2020. By comparison, this volume is equal to the annual natural gas consumption of all sub-Saharan African countries. More than 400 million tonnes of combustion products harm the environment every year. Our company uses flare gas to generate power, which we use to mine cryptocurrencies. By means of the technology of the future, we extract energy and at the same time save our planet from atmospheric pollution.

I should note that my team has huge plans to invest in Ukraine. We are interested in investing in projects that use artificial intelligence, rendering, and streaming technologies. I believe that next year we will be able to implement these plans.

White Rock Management continues on its path, which not only brings us success and sustainable opportunities, but also involves strict adherence to ESG standards. We remain committed to the idea of carbon neutrality, which is sure to become a new driver for the cryptocurrency industry and blockchain-based technologies. Our production facilities in Sweden and the USA, using carbon-neutral and carbon-negative technologies, contribute to the fight against environmental threats, and demonstrate effectiveness and prospects of this idea not in words, but in deeds.

cryptocurrency
Like

About the Creator

Serhiy Tron

Ukrainian entrepreneur, investor, Founder of White Rock Management

Reader insights

Be the first to share your insights about this piece.

How does it work?

Add your insights

Comments

There are no comments for this story

Be the first to respond and start the conversation.

Sign in to comment

    Find us on social media

    Miscellaneous links

    • Explore
    • Contact
    • Privacy Policy
    • Terms of Use
    • Support

    © 2024 Creatd, Inc. All Rights Reserved.