Hydro66

Operational Update Q2 2018 - Anne Graf CEO

Written by: Anne Graf

Hydro66 Holdings Corp (“Hydro66”) (CSE:SIX) is pleased to announce an update on its operations. As a reminder we are a colocation data center specializing in High Performance Compute (HPC) hosting for third parties. Our growth strategy is largely to attract corporate clients on long term hosting contracts, which in turn helps self-fund the delivery of additional data center space.

Quarterly highlights include:

  • Completed RTO and are now trading on the CSE
  • Increased capacity from 3.6 to 11.2 MW on time and on budget
  • Completed the sale of 100% of the additional capacity
  • Began construction on an additional 8.0 MW of capacity in 2 data halls
  • Tactical hires in data center management and financial control

The second quarter of 2018 was always going to be a transformational one for Hydro66. Having closed a CAD $10m private financing in Q1, we announced our intention to complete an RTO and list the business on the CSE. We were delighted to complete and deliver on the pledge of a live listing on 13th June 2018.

In addition to the listing process, we also had a clearly defined plan to more than triple the number of Megawatts (MW) we could offer to clients from 3.6 MW to 11.2 MW. Enabled by our innovative cooling design we achieved this in only double the amount of physical space. Our data center space available to clients currently occupies just under 2000 square meters, (21,500 ft2)  which is double that available during Q1. Again, we delivered 2 new data halls on time an on budget during Q2.

Our expansion as a business, and therefore our value creation for investors, is powered by our customer success. Creating 3x more MW of power to sell is at our risk, and so we were delighted to close business for 7.6 MW of new contracts during Q2. Largely driven by creating data center space ideal for HPC applications including blockchain infrastructure, we were happy to welcome four new clients and make a significant expansion with an existing client. As we closed out Q2 our focus shifted to further expanding the data center with an additional 8 MW under construction and scheduled for delivery later this year.

Later in September we will formally file our Q2 numbers, and of course we will also keep you updated on material progress of the business, particularly the delivery of our 2 new data halls. Until then its full speed ahead into Q3.

The full text of the formal Press Release can be read here

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