The case in summary: The crypto company Kryptovault has been declared bankrupt. The company previously moved its operations to Stokmarknes in Hadsel municipality due to cheaper electricity. The facility has been unpopular with neighbors and local politicians due to noise and high power consumption. The bankruptcy does not affect Stokmarknes Datasenter, which manages the land the facility stands on. There has been interest among several players who want to rent the facility. What happens next with the operation will take place in dialogue with the trustee. The summary is made by an AI service from OpenAi. The content is quality assured by news’s journalists before publication. – It has been demanding in many ways to stand in this storm. We have always been concerned with developing the data center together with the owners of the facility, creating new jobs and ensuring stable and predictable operations. I still think it is possible in the future, says Kjetil Hove Pettersen, managing director of Kryptovault. The company started with one plant in Dale and one in Hønefoss to mine cryptocurrency. But due to high electricity prices, both plants were shut down. Instead, Kryptovault moved its operations to Stokmarknes in Hadsel municipality, because the electricity in northern Norway was cheaper. In the first instance, they received a temporary permit to set up two containers at the Stokmarknes Data Center facility for two years. But it didn’t take long for the crypto center to become unpopular. The nearest neighbors dislike the facility because it is noisy. The local politicians because it uses far too much electricity compared to what it contributes to society. The municipal council thinks the use of electricity is so problematic that they have adopted a temporary ban on the establishment of new crypto centers in Hadsel municipality. When Kryptovault was declared bankrupt on Friday, one would think that the matter was over. – The bankruptcy does not affect the data center Kryptovault has been the owner of the technical installations at the data center, which essentially means computers and other technology. – What is done with this now must be done in dialogue with the trustee, says Kjetil Hove Pettersen. The site the facility stands on is managed by Stokmarknes Datasenter. – The bankruptcy in Kryptovault does not affect Stokmarknes Datasenter. They have built up a significant infrastructure for data center businesses in Hadsel municipality. Kryptovault has nothing to do with these plans. We have only been a tenant and operator in the area, says Pettersen. – I expect that the development plans will not be affected by this. There has been interest among several players who want to rent the facility. Carsten Lier, community contact at Stokmarknes Datasenter, does not panic that Kryptovault has been declared bankrupt. Last year, the computer facility appeared on a private property. Not long after, there were complaints from a number of neighbours. Photo: Privat Not a surprise According to Lier, they have been aware that Kyptovault has had financial challenges. – So the bankruptcy does not come as a big surprise. In the short term, the bankruptcy has consequences for the operation at Stokmarknes Data Centre, explains Lier. – But we have constantly worked to bring in more operators and there has been interest from several people who think Hadsel is an interesting location. Lier says, like Pettersen, he is quite confident that the developed infrastructure and the investments made in Hadsel will be attractive for other players to use. Lier cannot comment on what ceiling the bankruptcy entails for the data centre. – We relate to the executor and the process that is now starting, he says. – I cannot answer whether the operation will continue while the property is being processed. I expect that there will be a dialogue with the trustee over the weekend. Lier also does not believe that Kryptovault’s bankruptcy will affect Stokmarknes Datasenter in the long term. Photo: Marius Guttormsen / news
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Kryptovault went bankrupt, but the plans for a crypto center in Hadsel live on – news Nordland
