WISeKey to Invest up to $10 Million Over the Next Two Years to Perform Bitcoin Mining From its Swiss Mountain Secure Bunker and Adapt its Cybersecurity Technologies to Defend Against Illicit Cryptocurrency Mining Activities
The crypto mining and cybersecurity mining operations will probably be carried out through a Special Purpose car already created in Zoug with the title TrusteCoin AG
Benefits generated by Bitcoin mining course of will be used to foster WISeOkayey’s cybersecurity experience on defending its purchasers in opposition to illicit cryptocurrency mining activities
Bitcoin mining will probably be carried out from WISeOkayey’s Geneva Datacenter, and a former Swiss navy bunker positioned in the Swiss Alps related to the one filmed by Bloomberg again in 2014 https://youtu.be/xkWVxh-gRi8
Geneva, Switzerland – January 3, 2022 – WISeKey International Holding Ltd, (“WISeKey,” SIX: WIHN / Nasdaq: WKEY), a Swiss cybersecurity, AI and IoT firm introduced in the present day its plan to make investments up to $10 million over the subsequent two years, to carry out Bitcoin mining from its Geneva datacenter and a former Swiss navy bunker positioned in the Swiss Alps, aiming to adapt cybersecurity applied sciences to assist its clients defend themselves in opposition to illicit cryptocurrency mining actions.
WISeKey’s major goal of coming into crypto mining operations is to assist its purchasers defend in opposition to crypto jacking that happens when malicious cyber actors successfully hijack the processing energy of the units and techniques by exploiting vulnerabilities (in webpages, software program, and working techniques), and illicitly set up crypto mining software program on sufferer units and techniques.
Crypto jacking includes maliciously put in applications which might be persistent or non-persistent. Non-persistent crypto jacking often happens solely whereas a consumer is visiting a specific webpage or has an web browser open. Persistent crypto jacking continues to happen even after a consumer has stopped visiting the supply that initially triggered their system to carry out mining exercise. It is estimated that fifty out of each 100,000 units have encountered a cryptocurrency miner.
WISeKey’s crypto mining operations will probably be carried out through a Special Purpose car already created in Zoug with the title TrusteCoin AG. The goal will probably be to progressively purchase and set up over one thousand bitcoin mining machines at its safe Swiss Alps bunker amenities that will probably be linked to a management middle at WISeKey bunker in Geneva. WISeKey can also be different related places providing the identical sort of bunkers corresponding to in Gibraltar and United States that will probably be progressively linked to the community bearing in mind regulatory and sustainability features.
After China’s crypto house crackdown again in mid of 2021, the majority of the world’s bitcoin mining energy settled in the United States. The native bitcoin mining business now dominates the bitcoin mining market and produces over 35% of the world’s bitcoin mining hash price and there’s a nice alternative for cybersecurity firms to soar on this market with their expertise. Through TrusteCoin AG, WISeKey is browsing the tide of blockchain and NFT curiosity by a crypto mining enterprise. The crypto mining companies will probably be centered on simplifying client possession of safe Bitcoin mining tools by the integration of cybersecurity provided by WISeKey and smart-contract applied sciences to simplify the often-intimidating crypto mining course of, whereas offering an reasonably priced entry value for WISeKey purchasers.
Since 1999, WISeKey was one in every of first ever firms to present trusted, ultra-secure internet hosting utilizing Swiss Alps bunkers. These ultra-secure bunkers amenities are ample for critical-mission infrastructures and ideally positioned to carry out Bitcoin mining. The WISeKey mountain bunkers amenities are Swiss navy granite bunkers, in-built the Swiss Alps to assist the information even from nuclear catastrophes. These bunkers have been reworked to present an ultra-secure atmosphere for bitcoin mining as they’ve IT safety certifications from the ISO 27001 to the spectacular EM-SHIELD seal, which certifies safety in opposition to electromagnetic pulse.
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a number one international cybersecurity firm at present deploying giant scale digital id ecosystems for folks and objects utilizing Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors safe the pervasive computing shaping in the present day’s Internet of Everything. WISeKey IoT has an set up base of over 1.6 billion microchips in just about all IoT sectors (linked automobiles, good cities, drones, agricultural sensors, anti-counterfeiting, good lighting, servers, computer systems, cellphones, crypto tokens and so forth.). WISeKey is uniquely positioned to be at the fringe of IoT as our semiconductors produce an enormous quantity of Big Data that, when analyzed with Artificial Intelligence (AI), might help industrial purposes to predict the failure of their tools earlier than it occurs.
Our expertise is Trusted by the OISTE/WISeKey’s Swiss based mostly cryptographic Root of Trust (“RoT”) supplies safe authentication and identification, in each bodily and digital environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a standard belief anchor to guarantee the integrity of on-line transactions amongst objects and between objects and folks. For extra data, go to www.wisekey.com.
Press and investor contacts:
WISeKey International Holding Ltd
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
WISeKey Investor Relations (US)
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
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