Background: Since 2019 Green Edge Austria has supplied certified compute and storage capacity to the ThreeFold Grid from data centres in Salzburg and Vienna.
Green Edge Austria now seeks to raise funds from both current and new investors to build additional Supernodes and expand its farming operations on the ThreeFold Grid.
- Size of planned financing round = USD 3-5M
- Investor Type: Accredited Investors, minimum USD per investor 50K
- Target completion date: 30 June 2022
Use of proceeds :
- Capex: purchase of hardware (compute and storage)
- Opex: 60 months of Data Centre rack space costs, power, and connectivity
- Hire of additional hardware and network engineers and Working Capital
Timeline :
- Hardware order to be placed with vendor(s) in June 2022
- Hardware delivery to Data Centres in September/October 2022
- Hardware installation, connection to TF Grid October/November 2022
- Goal: All new Supenodes to be fully operational on TF Grid by YE 2022
Impact Assessment
- With a USD 3M raise, new Green Edge Austria Supernodes will be connected to the TF Grid in Berlin, Warsaw, Budapest and Bratislava and 16 Petabytes of high-quality certified storage and several thousand CPUs will be added to the Grid.
- With a USD 5M raise, Stuttgart, Prague, and Bucharest (or possibly Sofia) will be added as additional Supernode locations. In this scenario storage and compute capacity would be increase to 25 Petabytes and a minimum of 1K additional CPUs.
Capacity Connection Price Protection Request
As outlined above the elapsed time between launching the funding round and connecting the hardware to the TF Grid as new Supernodes is 9 months. The price of TFT is likely to fluctuate during this period. GE Austria therefore requests the ThreeFold DAO and Community approve the following proposal:
In the event Green Edge Austria connects additional certified compute and/or storage capacity in the form of new Super Nodes to the TF Grid in calendar year 2022 the effective TFT price for the purpose of the monthly farming calculation is hereby agreed to be the lower of USD 0.08 (8 cents) or the average TFT price, measured daily at 6pm CET, for the 30 days preceding connection of the Super Node to the TF Grid.
This assurance will allow the Green Edge Austria team to present financial projections to prospective investors that are realistic and that aren’t subject to change due to TFT price volatility in 2022.