Benzinga | Nov 16, 2021 11:01AM EST

Microsoft's 3 Swedish Data Hubs Will Run On 100% Green Power

* Microsoft Corp (NASDAQ:MSFT) launched a series of data centers at three sites in Sweden that run entirely on green energy through a partnership with state-owned utility Vattenfall AB.

* The centers are Microsoft's first to have backup generators that run on diesel containing at least 50% renewable raw material.

* The Swedish computer halls cover a total area of nearly 900 acres, Bloomberg reports

* Microsoft is currently expanding its tally of 250 centers by 50 a year.

* While the energy crisis is costing Microsoft "hundreds of millions of dollars within the year," the shift to renewables is helping to offset soaring gas prices. It's also key to meeting the company's target of becoming carbon negative by 2030.

* "The two largest cryptocurrencies, Bitcoin, and Ethereum are estimated to use about twice as much electricity in one year as is used throughout Sweden," Sweden's FSA head Erik Thedeen said.

* Price Action: MSFT shares traded higher by 0.45% at $337.59 on the last check Tuesday.