WISeKey International, a Nasdaq-listed Swiss cybersecurity firm, will begin bitcoin mining operations from a disused military bunker in the Alps. The granite mountain bunkers have been used by WISeKey since 1999 because the shelters will preserve data even in the event of a nuclear disaster.
A bunker in the Swiss Alps will become a BTC factory
“Ultra-secure bunker facilities are suitable for critical-mission infrastructure and are well-positioned for Bitcoin mining.” The bunkers have been upgraded to create an ultra-secure bitcoin mining environment with verified electromagnetic pulse protection, according to the business.
The goal is to progressively acquire and install over 1,000 bitcoin mining machines in its secure Swiss Alps bunkers, which will be linked to a control center at the WISeKey based in Geneva.
WISeKey is also investigating additional areas in Gibraltar and the United States that have comparable bunkers.
“They will be gradually connected to the network, taking regulatory and sustainability considerations into account,” the business noted.
WISeKey plans to invest up to $10 million in bitcoin mining over the next two years through a special purpose business called TrusteCoin.
The company stated that it plans to alter its cybersecurity solutions to protect clients from illegal bitcoin mining.
“WISeKey’s main goal in entering crypto mining operations is to help its clients protect against crypto-jacking,” according to the company. “Crypto-jacking occurs when malicious cyber actors successfully hijack the processing power of devices and systems by exploiting vulnerabilities and illicitly installing crypto mining software on victim devices and systems.”
Maliciously installed programs, whether persistent or non-permanent, are used in crypto-jacking.
Crypto-jacking that isn’t persistent happens when a person is browsing a specific webpage or has an internet browser open. Even after a user has ceased visiting the source that triggered their system to execute mining activities, persistent crypto-jacking continues.
WISeKey is “riding the tide of blockchain and NFT enthusiasm through a crypto-mining endeavor,” according to the company.
“The crypto-mining services will focus on simplifying consumer ownership of secure Bitcoin mining equipment through the integration of WISeKey’s cybersecurity and smart-contract technologies to simplify the often-intimidating crypto-mining process while providing an affordable entry cost for WIS2eKey clients,” says the company.
The benefits created by the Bitcoin mining process, according to the business, will be utilized to support WISeKey’s cybersecurity effort, which will protect its clients from illegal actions.
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