Server Farm Realty Begins Accepting Bitcoin Payments

Server Farm Realty, a privately-owned data center developer, has announced that it is one of the first data center operators to accept and receive bitcoin digital payments for all services across its data center and colocation portfolio.

Bitcoin is a decentralized digital currency that is managed through bitcoin exchanges and secure transaction engines such as BitPay and Coinbase, which process and verify the payments.

“As we continue to enhance our service solutions and expand our reach to companies that leverage the Internet for data communications, big bandwidth solutions and cloud services, Server Farm continues to find ways to make it easy for companies to work with us,” said Avner Papouchado, CEO of Server Farm Realty. “As one of the first data center owners and operators to accept bitcoin as payment, our innovative approach to business, coupled with the leading-edge design, security and capabilities of our facilities, continue to differentiate Server Farm in the market.”

Companies that pay with bitcoins use a digital wallet, which is considered a ‘safety deposit box’ for the digital currency. To access their bitcoins, the company has a unique digital ‘private key’.  Companies access their bitcoins by using their private key to sign a message indicating the input, amount and output address, and the designated recipient – who must also be able to accept bitcoins. The bitcoin wallet distributes the payment via a third-party provider who measures and verifies the payment, decoding the message to complete the transaction.

 

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