“Screw you guys! I’m going to the Arctic Circle” KNCMiner goes home, opening a 20MW data center in the North of Sweden
KNCMiner has announced that they have secured funds for the construction of a new 20MW data center, expandable to 30MW, in Boden, Sweden, near the Arctic Circle.
This announcement comes amidst a wave of consumer complaints against KNCMiner for not delivering miners, delivering miners late, delivering defective or off spec miners, pre-mining with their customer’s orders before delivery, or not issuing refunds for their orders.
In fact, a class-action lawsuit is shaping up against KNCMiner out of California which accuses KNCMiner of outright fraud.
This quite a change from the happy days when KNCMiner could meet its deadline for the shipment of its Jupiter ASICs.
In one Inside Bitcoins article about KNC, one customer complains:
"KNC miner blatantly sold broken miners to people! No, they scammed people out of thousands of dollars! They sold me a pile of broken hardware that I couldn’t resell! "
However in the comments section of CryptoCoinNews, one former KNC representative fires back calling customers “entitled”, and further explains:
“I believe KnC realised that they would make more money by being their own happy customer instead of spending so much money end energy on pleasing unpleasable consumers".
In that light, KNCMiner has officially decided in response to consumer complaints that it’s going say sayonara to “unhappy customers” and instead focus on mining for solely their own benefit.
In the words of KNC’s co-founder Sam Cole:
“There’s still going to be $2 billion [in Bitcoin], at today’s price, mined in the next few years. That’s a lot of cash that’s up for grabs, and we’re going to do our best to take a decent chunk of it.”
The mining bonanza will take place at a new 20MW data center located in Boden, Sweden. Locals call the area the “Node Pole” in reference to the area’s ambition to be a global hub of internet traffic. Cheap hydroelectricity, stable power, and sub-zero temperatures combine to make Boden, Sweden a place idea for the construction data centers like the Bitcoin data center KNCMiner is building.
If obtaining funding for a new 20MW datacenter were not enough good news for KNC, the piece de resistance may be KNC’s recent announcement that it will launch deployment of its 16 nm "Solar" line of chips early next year which KNC claims will be ten times more power efficient than its 20 nm Neptune chips.
All-in-all, if KNCMiner’s plans unfold as they hope, it will qualify as a roaring success for the Swedish mining outfit.
That success, however is bittersweet, as many of KNC’s former customers feel that KNC’s new triumphs are being built on the backs of the promises and preorders that KNC made, but on which they did not deliver.