2CRSi supplies computing power to fintech specialist Coin Citadel for close to $6m

Press release
 

2CRSi supplies computing power
to fintech specialist Coin Citadel for close to $6m

San Jose (United States), December 23, 2020 - 2CRSi (ISIN: FR0013341781), a manufacturer of high-performance, energy-efficient computer servers, announces it has been selected by the US digital currency and blockchain company Coin Citadel to provide additional green computing power.

In relation to the Group's focus on key verticals, among which finance, 2CRSi will supply the US fintech company Coin Citadel (OTC:CCTL) with additional computing power. In order to meet Coin Citadel's need for green and cost-effective servers, 2CRSi has selected Octopus 1.4 servers with 2 CPU and 4 GPU. This first order represents a total amount of close to 6 million US dollars.

Coin Citadel is a US-based technology company specialized in providing computing capacity for digital currency mining, and which has more recently evolved to also support peer-to-peer payment and blockchain. The additional GPU/CPU computing power provided by 2CRSi will double the company's existing capacity and complement its ASIC miners.

Thomas Pillsworth, Coin Citadel CEO, comments: "Global demand for computing is rapidly changing. With the digitalization of finance, more and more dedicated hardware will be required to support this fast growth. We could not be happier to partner with a specialist like 2CRSi to grow our own capacity."

"In order to support the digitization of financial instruments, Coin Citadel is making a significant investment in additional computing capacity which is also environment-friendly. This first order is a recognition of the perfect match between 2CRSi solutions and the finance industry's needs and expectations.", adds Alain Wilmouth, Chairman and co-founder of 2CRSi.

As per the terms of agreement, the new servers will be delivered by the end of January 2021.

This new agreement in the United States is yet another commercial success for 2CRSi, further reinforcing the Group's confidence in its positive sales momentum.

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About 2CRSi

Founded in Strasbourg (France), 2CRSi group develops, produces and sells high-performance customised and environment-friendly servers. In the financial year 2019/2020, the Group achieved pro forma turnover of €141.1m. The Group today has approximately 350 employees and markets its offer of innovative solutions (processing, storage and network) in more than 50 countries. 2CRSi has been listed since June 2018 on the regulated market of Euronext in Paris (ISIN Code: FR0013341781) and is included in the European Rising Tech label. For further information please visit: www.2crsi.com

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