Miner One Limited is a UK based company incorporated at the end of 2017 which established and currently operates a Bitcoin mining data centre. The data centre is located in Serbia and will benefit from a very low price of energy.
To grant the access to a high level of “know how” and expertise, Clear Leisure entered into a joint venture partnership with 64Bit Limited, (“64Bit”), a Malta data centre operator specialised in “crypto-mining” and powered by low-cost renewable energy. 64Bit’s CEO and founder, Mr Marco Mirra, has a long history of working in IT security and data management sectors and has already successfully extracted tens of Bitcoins with his existing Bitcoin mining data centres.
Clear Leisure will hold a 50% interest in Miner One, while the balance will be held by 64Bit. Furthermore, Francesco Gardin will represent Clear Leisure’s interests in Miner One Limited as the company Director of the new subsidiary.
The first bitcoin mining data centre has been successfully shipped to Serbia following the successful testing of the unit in Italy and it is expected to be running at full capacity for Bitcoin extraction.
The Company remains comfortable in its choice of Serbia as one of the best locations in Europe for low cost energy. However, Clear Leisure and its joint venture partner will seek to ensure that the best available energy rates are being utilised. As the data centre unit is mobile, moving the operation to another location is not expected to be a difficult task.
Francesco Gardin has extensive experience in the IT industry including lecturing for 30 years at Udine, Milan and Siena Universities in Italy, where he focused on Theory and Application of Computing Machines, the key to understanding the theory behind cryptography and blockchain technology.
Professor Remo Pareschi, former head of Telecom Italia’s R&D department, professor of Computer Science at Molise University and co-founder of DLT Labs, a blockchain technology IBM partner, is advising Clear Leisure.
Bitcoin and Bitcoin Mining
Bitcoin (“BTC” or ”XBT”) is the first computer-generated decentralised “cryptocurrency”, which is powered by a public ledger, “the Bitcoin blockchain”, that records and validates all transactions chronologically. Bitcoin is thought to have been invented between 2008 and 2009, and released as open-source software.
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator standing behind it. The network is peer-to-peer, which is already a familiar concept within the world of finance, and transactions take place between users directly through the use of cryptography, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.
Bitcoins can be created by the process of “mining”, which entails processing the so-called proof-of-work system, running on specialised computers, called ‘miners’. Bitcoin mining is a computing and energy intensive activity where very fast specialised hardware and cheap energy can confer a material competitive advantage. The analogy with the term “mining” is based on the uncertainty factor of how much energy and time is required, as with traditional resources mining operations.