Vancouver, British Columbia--(Newsfile Corp. - August 26, 2021) - Neptune Digital Assets Corp. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a cryptocurrency leader in Canada, is pleased to inform shareholders that the Company's recent purchase of two hundred new Antminer S19 Pro next-generation bitcoin ASIC mining machines announced July 7, 2021 have arrived in the United States and are securely warehoused awaiting distribution to the Company's Bitcoin mining facility.
"We are quite pleased with our timing on this most recent purchase as rig prices have moved up a significant amount since we placed this order. This will add another 22,000 TH/s of capacity to our existing 12,000 TH/s and we look forward to working with Luxor and our US partners to get these new bitcoin mining machines operational as soon as possible. We continue to source the best machines at competitive pricing as we scale our bitcoin mining operations cautiously and strategically with market forces in mind," stated Cale Moodie, Neptune CEO. "As we have mentioned before, the COVID-19 pandemic continues to impact logistics and the supply of miners and we are working closely with our partners to maximize speed and decrease cost."
At the time of this release and under prevailing cryptocurrency prices, Neptune Digital has total assets of approximately $54M and monthly revenues of $505,000 per month. The Company has no debt and no material liabilities at this time.
About Neptune Digital Assets Corp.
Neptune Digital Assets (TSXV: NDA) is one of the first publicly-traded blockchain companies in Canada and is a cryptocurrency leader with diversified assets and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (DeFi) and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "proposes" or similar terminology. Forward-looking statements and information include, but are not limited to, the future rate of production from the Company's bitcoin mining machines and the anticipated timing thereof; the anticipated timing of the Company's new bitcoin mining machines becoming operational; the Company's future ability to source the best bitcoin mining machines at competitive pricing; the impact of the COVID-19 pandemic on logistics and the supply of miners; the Company's ability to work with its partners to maximize speed and decrease cost of delivery of bitcoin mining machines; the revenues from the Company's mining and staking operations; the future scaling of the Company's bitcoin mining operations; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company's ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
(All dollar amounts are in Canadian dollars unless otherwise indicated)
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