The Chinese high-tech company Canaan Creative has chosen Boden in northern Sweden and Vattenfall as its energy supplier to spearhead its expansion into Europe. A high level of technological development, access to climate-smart energy and a lower energy tax are the main reasons for opting to establish its facility there.
Canaan is a leading global producer of blockchain servers and ASIC microprocessors. Its set-up in Sweden is the first of its kind by a Chinese company outside China. Vattenfall will supply electricity to the data centre, which will initially operate at 10 MW.
"Canaan Creative is setting up in Europe in order to continue developing blockchain technology for new markets and applications. We decided that Boden is the best location to drive blockchain technology to the next level," says N.G. Zhang, CEO, founder and partner of Canaan Creative.
Trading with solar power
Blockchain technology, which forms the basis for the electronic currency Bitcoin, is interesting for several future applications, such as bank payment systems or for recording the energy production of solar panels in order to issue tradable green certificates.
"Sweden’s electricity system is unique in the world – it is stable and has a low carbon footprint. We hope to attract even more data centres and other energy-intensive industries to Sweden and thus create more jobs while reducing the climate impact. The fact that a leading company such as Canaan Creative is coming to Sweden shows that we are on the right track," says Mattias Tingvall, Head of Business Development at Vattenfall.
More information about data centres in northern Sweden:
Data centres – the next huge growth industry