Mr. Stephen Jenkins reports
LINK GLOBAL TECHNOLOGIES BEGINS REGULATORY APPROVAL PROCESS FOR 30 MW OVER 3 NEW SITES
Link Global Technologies Inc. has initiated engineering, procurement and regulatory approvals of a previously announced partner increasing its initial commitment from 20 megawatts to 30 megawatts.
The regulatory process has begun on three 10-megawatt sites in western Alberta and is being implemented with the latest learnings and requirements agreed to between Link and the Alberta Utilities Commission (AUC). These sites will provide both Link and its partners with the capacity to operate over 9,000 machines, which will create a consistent revenue stream for Link. The chosen sites and related agreements allow Link to expand with minimal capital investment.
"Being flexible and mobile allows us to relocate operations when deemed necessary, whether for technical, social, environmental or financial reasons. This is the case at present where three operations are expanding to five," said Link Global chief executive officer Stephen Jenkins. "With market conditions where they are, there is an opportunity to modify our infrastructure inventory so that we can take advantage of demand to improve cash flow and improve our financial model moving forward."
In addition to the commencement of the above-mentioned regulatory process, the company is pleased to provide shareholders with the following operational updates:
Link has completed its joint submission with AUC with respect to operations. This process has led to operational improvements, including:
- The company has accepted the AUC joint submission outcomes and completed a thorough review of both existing sites and new sites to ensure smooth construction commissioning and compliance with AUC and other regulatory bodies.
- The company has taken steps to ensure that sites under contract and new sites have all the requirements of AUC implemented to avoid future regulatory operational interruptions.
- The company is relocating its Campbell battery operations to a site farther north.
- AEP (Alberta Environment and Parks) paperwork has been filed for the Kirkwall site, and this operation is expected to resume once approval is received.
- The company had reviewed existing assets and determined that the short-term growth model will be financed through partnerships and cost sharing that will not require a capital investment and avoid shareholder dilution.
"The digital currency operations require us to constantly look at every aspect of our business to see where opportunities for improvement exist, and to create a system for dialogue and feedback, both internally and externally," added Mr. Jenkins.
Link has also begun securing several required long lead assets, including:
- Power generation equipment;
- Mobile data containers;
- Data centre equipment;
- Other electrical infrastructure and materials.
- Link has engaged an advisory firm to assist with preparations for potential listing on the Alternative Investment Market, which is a specialized unit of the London Stock Exchange.
- The company's 10-megawatt Westlock facility continues to operate on a full-time basis.
- Updates will be provided on Atlas and other partnerships as developments proceed.
About Link Global Technologies Inc.
Link is engaged in providing infrastructure and operating expertise for digital mining and data hosting operations. Link's objectives include locating and securing, for lease and option to purchase, properties with access to low-cost, reliable power and deploying this low-cost power to conduct digital mining and supply clean energy and infrastructure for other data-hosting services.
We seek Safe Harbor.
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