Colocation and Cloud Computing Options Provider Atlas Cloud Acquires MKH Electric City Holdings’ Blockchain Facility

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DATE: April 29, 2019, 9:24 a.m.

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  1. Colocation and Cloud Computing Options Provider Atlas Cloud Acquires MKH Electric City Holdings’ Blockchain Facility
  2. Colocation and cloud computing options provider Atlas Cloud Enterprises Inc. (Atlas Cloud) has acquired a blockchain facility owned by MKH Electric City Holdings LLC (MKH).
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  13. Atlas Cloud, which has headquarters in Vancouver, British Columbia, Canada, offers bespoke colocation and cloud options to “small and medium businesses in Western Canada”. The company’s products and services extend to managed virtualization, web development and design, Virtual Servers, and VDI solutions for film and TV.
  15. MKH has headquarters in Spokane, Washington, United States and its dedicated blockchain facility is located in Electric City, Washington State, United States. The facility provides 6,600-square feet of space, which Atlas Cloud will use for digital currency (Bitcoin) mining. The acquisition is subject to the approval of the Canadian Securities Exchange. The cost of the deal will be in the region of $300,000 with Atlas Cloud “expected to spend up to $2,600,000 in facility infrastructure costs and related expenses”.
  17. "We are thrilled to transition and launch into the operational phase of commercialization of our new Bitcoin mining facility,” explained Atlas Cloud’s President, Fred Stearman. “Our recent and successful financing efforts have launched what we believe will be one of the most cost-efficient and scalable operations in the business. Washington State is an excellent jurisdiction with its access to abundant inexpensive electricity, good governance, and a cool climate important for economic server operations. Our previous extensive experience in cloud-based service delivery combined with our exciting new facility is a solid foundation from which we plan to build upon. It's a truly exciting time at Atlas Cloud and we look forward to building a robust and vibrant business alongside commensurate shareholder value as we launch into 2018."
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