01:47:10 EDT Mon 27 May 2024
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or Name

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Hello Pal International Inc
Symbol HP
Shares Issued 160,694,556
Close 2022-04-18 C$ 0.21
Market Cap C$ 33,745,857
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Hello Pal begins crypto mining operations in Australia

2022-04-19 09:45 ET - News Release

Mr. KL Wong reports


Hello Pal International Inc. has commenced its cryptocurrency mining operations in Australia.

100 Bitmain Antminer L7 mining rigs housed in an undisclosed location in Victoria, Australia, are fully operational and have commenced mining Litecoin and Dogecoin. The L7 model has a hashrate of 9,500 megahash per second, which is 19 times more powerful than that of the previous L3 plus model. They consume substantially less power and have a stability rate of 98 per cent in comparison with the previous stability rate of 70 per cent improving overall profit margins considerably.

Of the 100 mining rigs located in Victoria, 75 are owned by the company's subsidiary, CPal Technology Ltd., with the remaining 25 belonging to wholly owned subsidiary Hello Pal Asia Ltd.

"We are excited for our mining operations to resume again, and pleased that we have been able to diversify the location of our rigs with this Australian mining facility," said KL Wong, founder and chairman of the company. "We look forward to the remaining 300 mining rigs in North America to also commence operations soon."

The data centre in Australia is capable of housing up to 20,000 mining rigs providing sufficient room for Hello Pal to expand its cryptocurrency mining capabilities onsite down the track.

To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the company or the contents of this news release, please contact the company at 604-683-0911 or visit the website. E-mail inquiries can be directed to investors@hellopal.com.

About Hello Pal International Inc.

Hello Pal's platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, the company hopes to do its part (however small) in fostering understanding and tolerance between all citizens of the world.

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