Mr. Patrick Gray reports
HASHCHAIN TECHNOLOGY TO RECEIVE SHIPMENT OF 6,000 CRYPTOCURRENCY MINING RIGS THIS WEEK
Hashchain Technology Inc. expects to receive its shipment of 6,000 rigs later this week
and to be deployed by end of July, 2018. Hashchain currently runs 3,495 rigs in its mining facilities in Canada and the United States and, upon deployment of these latest rigs, will have 9,495 in operation for 14 megawatts of computing power. In all, 9,395 rigs will be mining Bitcoin and 100 will be mining Dash.
"By the end of next month, we expect Hashchain to have deployed approximately 9,500 rigs in just eight months since being listed on the TSX Venture Exchange," said Patrick Gray, chief executive officer and founder of Hashchain. "The catalyst to the company's rapid growth in the cryptocurrency mining space is our ability to acquire a large repository of rigs and run them in low-cost, low-temperature environments. As the second half of 2018 begins, Hashchain remains committed to scaling the growth of our mining operation even further."
With the current 3,495 rigs deployed, the company has mined 39.3 Bitcoin and 15.9 Dash over the 16-day period of June 9 to June 24, 2018. Based on the CoinMarketCap website, prices for both digital currencies on June 24, 2018 ($7,701 and $301 for Bitcoin and Dash, respectively), Hashchain accumulated a value of $302,649 from Bitcoin and $4,786 from Dash.
Hashchain notes there are material costs associated with mining, and it will need to complete its next quarterly financial statements to have complete details. The company will report full costs associated with mining in its financial statements. At this time, the company has not converted the Bitcoin and Dash into fiat currency.
About Hashchain Technology Inc.
Hashchain is a blockchain company and the first publicly traded Canadian cryptocurrency mining company to file a final prospectus supporting highly scalable and flexible mining operations across all major cryptocurrencies. Hashchain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining wins.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.