Colabitoil real estate signs long-term lease with Block Trade Technology Ltd.
Colabitoil's real estate subsidiary Colaboitoil Fastigheter AB signs long-term lease with Block Trade Technology Ltd for an annual turnover of 0.8 MSEK with an additional 7.8 MSEK intended.
NORRSUNDET, SWEDEN (15 February, 2018) – Colabitoil Sweden AB (AktieTorget: COLAB) a Swedish company specializing in renewable fuels, today announced that its real estate subsidiary signed a five year lease and a letter of intent for a total of 24 697 m2 with Block Trade Technology, a technology company specializing in clean and efficient low-cost energy cryptocurrency mining.
The agreement was signed February 9th and occupation takes place March 1st. Agreement includes the rent of 2 289 m2 and a letter of intent to rent an additional 2 408 m2 within three months and 20 000 m2 within a year. Full utilization of agreements results in annual turnover of 8.65 MSEK, all operating expenses and interior changes excluded.
"We have now contracted tenants for 22% of our rentable space and a potential of 98,5% within a year, which fulfills the ambition of renting existing premises. We are happy to be able to contribute to a sustainable operation and also use surplus heat for good use," says Colabitolis CEO Jan Nordlöf.
Colabitoil Fastigheter AB owns 22 acres of land with 33 300 m2 of property space strategically located in Norrsundet, Mid Sweden logistic hub where 3 200 m2 is for own use and 4 900 m2 is previously rented.
“This partnership further strengthens Stockholm IT Ventures’ position as a solid partner for existing miners looking to relocate. The move of servers from non-crypto friendly domiciles to Sweden that we saw coming a couple of months is now really happening and this is a very strong trend,” says Block Trade Technology Operations Manager, Fredrik Waijnstad
COLABITOIL SWEDEN AB is a Swedish public company listed on AktieTorget. The company was founded in 2013 with the vision of manufacturing and market renewable fuels. From Norrsundet, Mid Swedens logistics hub, the company supplies companies and consumers with fossil-free fuels. The supply of goods and services enables customers to reduce their carbon footprint by combining high quality renewable fuel products with good service. The company is leading the development of renewable diesel HVO in Sweden. The company has three subsidiaries; real estate, production and tank facilities For more information, visit www.colabitoil.com
About Block Trade Technology
Block Trade Technology Ltd is a subsidiary of Stockholm IT Ventures AB, 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 up to 80% 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.com