Mr. Cale Moodie reports
NEPTUNE DIGITAL ASSETS ANNOUNCES ADDITIONAL PURCHASE OF NEXT GENERATION BITCOIN MINERS
Neptune Digital Assets Corp. has purchased an additional set of new Antminer S19 Pro next-generation bitcoin ASIC mining machines to support its expanding U.S. operations.
The mining machines were sourced through Neptune's growing network of global blockchain partners providing Neptune with the highest-performing mining hardware available. The Antminer S19 Pro is the latest generation bitcoin ASIC miner produced by leading hardware manufacturer Bitmain. The Antminer S19 Pro's mining SHA-256 algorithm boasts a hash rate of 100 terahash per second (TH/s) with an energy efficiency of 29.5 joules per terahash (J/TH) and a power consumption of 3,250 watts.
Neptune's secured order of 530 Antminer S19 Pro machines is expected to be delivered in the coming months and will produce a combined hash rate of 53,000 TH/s. As always, Neptune will continue to work with partners and suppliers that focus on renewable power aligning with Neptune's green bitcoin initiative while providing competitive pricing.
"We are very pleased with our newest order of Antminer S19 Pro machines which will add another 53,000 TH/s of capacity to our existing 22,000 TH awaiting deployment. We continue to source the best machines at competitive pricing with our strong industry relationships and we are focused on scaling our bitcoin mining operations rapidly while keeping power costs as low as industry standards allow," stated Cale Moodie, Neptune chief executive officer. "We are very excited to show our shareholders results from our recent year ended Aug. 31, 2021, and these audited metrics will be available prior to Dec. 31, 2021."
Today's announcement is part of Neptune's continuing strategy to grow our bitcoin mining operations. Neptune intends to continue using operational profits to make investments in mining, staking, nodes and other cryptocurrency projects.
Link Global update
Given the recent events in Alberta arising between Link Global and the Alberta Utilities Commission, Neptune feels it is prudent to pursue other avenues of expansion and will be currently focusing on its American partners to expand renewable focused mining operations with all 730 new S19 Pro bitcoin miners. Neptune expects the rigs currently in Alberta to produce bitcoin at agreed upon petahash per Neptune's legally binding MSA with Link Global. Neptune also notes these operations are becoming immaterial to the overall earnings of the company as the additional 75,000 TH/s come on-line in the United States over the coming months. Pure Digital Power will remain undeveloped at this time given the U.S. expansion efforts are looking substantially more profitable.
Neptune remains highly profitable with 981 rigs either on-line or coming on-line within months and staking/interest revenue of approximately $350,000 per month. The company's assets continue to grow daily while its expenses remain exceptionally low. Neptune currently has over $56-million in assets on its balance sheet and zero debt.
About Neptune Digital Assets Corp.
Neptune Digital Assets 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 and associated blockchain technologies.
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