What ALPS does

ALPS, founded in Trento, Italy in 2018 (formerly Alps Blockchain), is a vertically integrated infrastructure company that designs, builds, and operates industrial-scale data centers for Bitcoin mining and high-performance computing. The company operates a modular, prefabricated deployment model that enables sites to be built in 6-12 months where energy is structurally abundant but underutilized, with a deployed footprint of 242 MW and 15 EH/s of hashrate as of 2026, placing it among the top ten Bitcoin mining operators globally with the second-best fleet efficiency at 15.9 J/TH.

The core platform combines three product layers: Bitcoin mining infrastructure as the primary monetization workload, industrial compute infrastructure designed to be repurposable for AI and HPC workloads with limited incremental capex, and AlpsCore, a proprietary operations platform providing real-time monitoring, alerting, and financial analytics across all sites. ALPS controls the full value chain through a design-to-build-to-operate model covering site selection, civil and electrical engineering, hardware deployment, and 24/7 operations and maintenance. The technology stack is anchored by long-term partnerships with Bitmain for ASIC supply and Green Data City for the first government-licensed data center hub in Oman.

ALPS monetizes installed capacity primarily through Bitcoin mining computation on its own infrastructure, generating usage-based cash flow tied to network economics. Its customer-facing segments are energy developers, utilities, and grid operators with stranded or surplus energy, for whom ALPS serves as a build-and-operate partner converting wasted energy into computational value. Go-to-market is enterprise and relationship-driven, with expansion geographies (Italy, Oman, USA, Paraguay, Ecuador, Bolivia) selected for structural energy advantages and regulatory stability. The company is funded by over €145 million in institutional capital from Azimut across three rounds in 2023, 2024, and 2025, and is founder-led with co-founders Francesco Buffa (CEO) and Francesca Failoni (CFO) at the helm.

Name

ALPS

Legal name

ALPS BLOCKCHAIN S.p.A.

Website

https://alpsblockchain.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Bitcoin Mining Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Mining Hosting, Colocation & Managed Facilities (FSADAOAE)

akta.pro secondary industries

HCI & Integrated Systems (Compute + Storage) (HDABADAD), Mining Software, Firmware & Monitoring Platforms (FSADAOAF)

Keywords

• Bitcoin mining infrastructure
• Industrial data centers
• High-performance computing
• Stranded energy conversion
• Modular data center deployment

Headquarters

HQ city

Trento

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Technology or R&D, Supply Chain, Personnel

Revenue model

1. Blockchain Mining Computation: ALPS monetizes installed capacity by providing computational power to the Bitcoin network. This generates immediate, flexible cash flow with high operational uptime. The company mines Bitcoin using proprietary infrastructure at its facilities worldwide.
2. High-Performance Computing (AI): ALPS infrastructure is designed to be repurposable for AI and HPC workloads. The same facilities that host blockchain mining can serve AI computing needs with limited incremental capital expenditure.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

ALPS designs, builds, and operates industrial-scale next-generation data centers for Bitcoin mining and high-performance computing (HPC/AI). The company applies a design→build→operate model, deploying modular, prefabricated facilities at sites with stranded or underutilized energy to convert surplus power into computational value. Its infrastructure supports both blockchain mining and AI/HPC workloads with limited additional capex required to pivot between workload types.

Product overview

ALPS is a vertically integrated industrial compute and Bitcoin mining infrastructure company operating on a design→build→operate model. The core offering consists of Bitcoin Mining Infrastructure as the primary monetisation layer and Industrial Compute Infrastructure as a forward-looking capability for AI and HPC workloads. Both share the same modular, energy-efficient platform — powered by AlpsCore for real-time monitoring and analytics — enabling workload pivots with limited incremental capex. Services span full lifecycle infrastructure development from site selection through daily operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Bitcoin Mining Infrastructure Industrial-scale Bitcoin mining farms deployed and operated globally by ALPS, converting stranded energy into computational value. The infrastructure supports blockchain mining as the primary monetisation workload and is designed for 15+ year operational lifespan with modular expandability.
• Industrial Compute Infrastructure (HPC/AI) High-density compute infrastructure designed for AI and HPC workloads, built on the same modular, energy-efficient platform as ALPS's Bitcoin mining operations. The infrastructure can be repurposed for AI/HPC with limited incremental capital expenditure required to pivot between workload types.
• AlpsCore Proprietary real-time monitoring, financial tracking, and energy analytics platform that aggregates performance and operational data across all ALPS sites, providing a single source of truth for uptime, efficiency, and cost control with 99.9% operational availability.
• Design-Build-Operate Infrastructure Service End-to-end infrastructure service covering site selection, data centre engineering and civil works, electrical infrastructure, hardware deployment, 24/7 operations and maintenance, and performance optimisation across all sites globally. Modular facilities deploy in 6-12 months.

Quantifiable outcome

• Hashrate grew 500% year-on-year in 2025
• +5 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• BitmaincoreTechnology or IntegrationStrategic partnership ensuring privileged access to hardware, direct support, and competitive global terms. ALPS's entire ASIC fleet has been based on Bitmain technology for years, providing reliable hardware supply.
• Green Data City (GDC)coreStrategic or Co-development PartnerPartnership with the first government-licensed data center hub in Oman. ALPS operates with the necessary license to carry out mining activities in Oman under this partnership, aligned with Oman Vision 2040.
• Simple MiningmajorStrategic or Co-development PartnerJoint venture in the United States (Iowa) for operational management of sites. Partner contributes local labor for maintenance and expansion works at Iowa facilities.
• CESI GroupmajorStrategic or Co-development PartnerCollaboration providing independent analysis and advanced engineering expertise for developing more efficient and sustainable energy models. Partnership focused on hardware optimization and grid stability research.
• KEMA LabsmajorTechnology or IntegrationPartnership integrating high testing and certification standards. Conducts tests on integrations between data centers and large-scale power grids, ensuring reliability and quality in energy infrastructure.
• Politecnico di TorinominorStrategic or Co-development PartnerTogether with Tether and other partners, ALPS contributed to the creation of the Bitcoin Observatory. Initiative produces research and insights on the sector, strengthening dialogue between industry and academia.
• University of TrentominorStrategic or Co-development PartnerCollaboration aims to initiate pilot projects combining artificial intelligence and energy optimization, opening opportunities between advanced research and industrial application.
• Tecnoenergia SRLmajorStrategic or Co-development PartnerFirst step in Italy toward energy self-consumption and computing power production in hydroelectric power plants in Northern Italy. Technical partner that successfully installed and tested the first Italian Alps Farm in their power plants.

Scale indicators13 records

Recent moves3 records

Expansion highlights6 records

Direct peers

• Marathon Digital Holdings: One of the largest publicly traded Bitcoin miners globally, operating industrial-scale mining infrastructure with a similar focus on energy cost optimization and HPC/AI pivots. Directly comparable on business model, scale, and forward strategy of monetizing energy through compute.
• Riot Platforms: Large publicly traded Bitcoin miner operating >1 GW of developed capacity in Texas with similar institutional positioning and a stated HPC/AI optionality. Direct peer on infrastructure scale, energy strategy, and capital markets access.
• CleanSpark: Public Bitcoin miner focused on efficiency and scaling hashrate through data center operations. Highly comparable in operational philosophy (efficiency-driven, modular expansion) and forward HPC strategy.
• Iris Energy: Public Bitcoin miner with renewable-energy-powered data centers and an explicit HPC/AI GPU compute pivot (AI Cloud). Closely comparable business model: energy-sourced industrial compute with HPC ambitions.
• Core Scientific: Public Bitcoin miner that emerged from bankruptcy with HPC hosting as a major revenue line alongside mining. Comparable on infrastructure-led business model and AI/HPC workload diversification.
• Hut 8: Public digital infrastructure company operating Bitcoin mining and HPC/AI compute infrastructure across North America. Direct comparable on infrastructure diversification and institutional positioning.
• Cipher Mining: Public Bitcoin miner focused on industrial-scale operations in Texas with HPC optionality. Comparable on infrastructure-led, energy-advantaged approach to industrial-scale mining.
• Hive Digital Technologies: Public Bitcoin miner with operations across multiple geographies and a growing AI/HPC cloud services business. Directly comparable on global multi-jurisdiction footprint and HPC pivot.
• Bitfarms: Public Bitcoin miner operating across North and South America with hydroelectric-powered facilities in Paraguay. Closely comparable on renewable-energy-strategic-siting philosophy and South American footprint.
• TeraWulf: Public Bitcoin miner operating zero-carbon nuclear-powered facilities with a stated HPC/AI hosting pivot. Comparable on sustainability positioning and infrastructure-as-platform strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/alpsblockchain
• LinkedInlinkedin.com/company/alps-blockchain-srl

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ALPS