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Block One Capital Inc
Symbol C : BLOK
Shares Issued 51,338,333
Close 2017-12-06 C$ 1.47
Recent Sedar Documents

Block One investee TG12 to acquire 1,000 S9 Antminers

2017-12-07 03:37 ET - News Release

Mr. David Berg reports

BLOCK ONE CAPITAL INC. INVESTEE COMPANY: TG12 VENTURES INC., DOUBLES PURCHASE AGREEMENT TO ACQUIRE AN ADDITIONAL 1,000 BITCOIN MINERS

Block One Capital Inc.'s investee company TG12 Ventures Inc. has entered into a purchase agreement to acquire an additional 1,000 S9 Antminers. TG12 now has 2,000 units on order with the first 1,000 units scheduled to be operable in February, 2018.

The S9 Antminers are manufactured by Bitmain, one the world's most recognized bitcoin/cryptocurrency companies. The first batch of S9 Antminers is scheduled to be shipped and delivered in January, 2018, and be operable in February, 2018. The S9s are planned to operate at a co-location facility, located in Montreal, Que., Canada, where the all-in cost of operating the miners, inclusive of electricity, rent, cooling, general rig maintenance and management, is estimated to be about 10 U.S. cents per kilowatt-hour.

Based on TG12's financial forecasting, the current conservative bitcoin price estimate of $8,000 (U.S.) and the 2,000 miners being fully operable, the estimated revenue per year is $15.6-million (U.S.).

With any appreciation of the price of bitcoin above this estimate, the return on investment of the miners should become even greater. Based on the current bitcoin price of approximately $13,900 (U.S.) on Dec. 6, 2017, the estimated revenue per year would be $25.97-million (U.S.).

Additionally, the company's updated corporate slide deck is now available for download the Block One website.

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