DGAP-News: Stockholm IT Ventures AB: STOCKHOLM IT VENTURES ACQUIRES TÖREBODA SCIENCE PARK FACILITY IN SWEDEN TO EXPAND CRYPTO-MINING CAPABILITIES

STOCKHOLM, SWEDEN (01 June 2018) - Stockholm IT Ventures AB (Frankfurt Stock Exchange: SVAB - ISIN SE 0006027546), a Swedish technology company specialising in clean and efficient low-cost energy crypto currency mining, today announced it has purchased two facilities in Töreboda, Sweden, an emerging growth region located half-way between Stockholm and Gothenburg. The facility will be used to expand Stockholm IT Venture's crypto-mining operations, as well as provide studios and office spaces for research, development, and incubation.
 
"Sweden has established itself as the optimal location for crypto-mining," said Anthony Norman, CEO, Stockholm IT Ventures. "We are seeing a massive land grab right now in the country to set up energy-efficient technology for miners to mine. We are capitalizing on a unique opportunity to provide a state of the art facility that will meet the needs of our growing pipeline of interested hosting clients."
 
The 6000 m² facility was purchased for 980k Euros, half in shares at EUR0.08 and half in cash from the drawdown from the GEM Global Yield Fund. The space allows for up to 50 MW of power with additional opportunities through pre-approved zoning rights for expansion throughout the area, as well as the option to expand to an additional 6000 m². With this new facility in Töreboda, Stockholm IT Ventures is investing in the construction of one of Sweden's largest data storage halls based on a new and significantly less heat-generating technology.
 
About Stockholm IT Ventures AB
Stockholm IT Ventures AB is a Swedish public company listed on the Frankfurt Stock Exchange since 2014 under the ticker symbol SVAB. The company focuses on clean and efficient low-cost energy cryptocurrency mining and production, and in blockchain related technology. All mining activities shall use clean and sustainable energy from hydro power stations in Northern Europe, requiring significantly less energy compared to ordinary mining for Bitcoin. The Stockholm IT Ventures stock represents a green investment in cryptocurrency technology. For more information, visit www.stockholmit.co. You can also find them on Facebook, Twitter and LinkedIn. Details on the company's Bytemine (BYTM) token and White Paper can be found here: www.bytemine.io.
 
Media Contacts:
 
Vibrate Communications for Stockholm IT Ventures
leslie@vibratecommunications.com
tyrone@vibratecommunications.com