Mr. Stefan Matthews reports
TAAL COMPLETES ACQUISITION OF A DATA CENTRE IN NEW BRUNSWICK, CANADA AND PROVIDES PRELIMINARY Q4 2021 GUIDANCE
TAAL Distributed Information Technologies Inc. has closed the previously announced share purchase transaction, acquiring 100-per-cent ownership of Chief Fuels Inc., and with it, indirect ownership of a 60,000-square-foot facility in Grand Falls, N.B. With this transaction, TAAL gains access to 50 megawatts of clean energy, which the company expects will ultimately allow it to power up to two million trillion hashes per second (Eh/s) of bitcoin mining in New Brunswick, Canada.
Once filled to capacity, the Grand Falls facility is expected to have 50 megawatts (MW)of power to mine bitcoin at an industrial scale:
50 MW of energy will power up to two Eh/s of mining capacity;
New Brunswick-based facility will become TAAL's cornerstone bitcoin mining asset;
- New Brunswick power corporation supplies energy to industrial and residential customers in the province of New Brunswick that is over 80 per cent non-emitting, over 40 per cent from renewables.
Preliminary Q4 2021 guidance
The company is also announcing that it anticipates, based on information currently available to management, that the financial results for Q4 2021 will include the following highlights:
Consolidated revenue expected to be in the range of $13.75-million to $14.25-million;
Approximately 70,000 BSV held in treasury at the end of the quarter;
$35-million in prepaid deposits on mining equipment, power deposits and infrastructure for future growth.
About TAAL Distributed Information Technologies Inc.
TAAL Distributed Information Technologies delivers value-added blockchain services, providing professional-grade and highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications on the BSV platform, and developing, operating, and managing distributed computing systems for enterprise users. BitcoinSV blockchain is the world's largest public blockchain by all major utility metrics, data storage, daily transaction volume, scaling ability and average block size.
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