BitFury Group has signed an agreement to acquire Allied Control, a Hong Kong-based tech startup that provides cooling systems for supercomputing and data center applications.
The move will make Allied Control a subsidiary and in-house special department of the bitcoin mining and transaction processing company. The deal has not yet been closed and is subject to customary conditions.
Plans for high-performance computing
Following the news of the acquisition of Allied, BitFury said it will better positioned to enter the high-performance computing (HPC) market.
“Our big scale production will get AC immersion cooling technology up to a new level,” a spokesperson for BitFury said. “Together, we hope to get leading positions on solutions for the HPC market.”
The IT infrastructure market was worth about $140bn in 2014, she explained; the HPC industry, $12bn.
In China, she added, the HPC industry has a compound annual growth rate of about 30% with increasing demand for HPC solutions from governments as well as corporations using big data analysis to improve productivity.
“It’s a very attractive high margin industry, which BitFury and Allied Control plan to revolutionize together,” she said.
Images via BitFury
- ^ Allied Control (www.allied-control.com)
- ^ challenges posed (www.coindesk.com)
- ^ BitFury (bitfury.com)
- ^ in its market (www.coindesk.com)
- ^ dominated VC funding (www.coindesk.com)
- ^ Last month (www.coindesk.com)
- ^ Allied Control (www.coindesk.com)
- ^ BitFury (www.coindesk.com)
- ^ Immersion Cooling (www.coindesk.com)