HashChain Technology To Receive Shipment of 6,000 Cryptocurrency Mining Rigs This Week
25 Juni 2018 - 6:25PM
InvestorsHub NewsWire
Expected to be Operational in July 2018 for a Total of 14 Megawatts
of Power
VANCOUVER, BC -- June 25, 2018 -- InvestorsHub
NewsWire -- HashChain Technology Inc.
("HashChain" or the
"Company")
(TSXV: KASH; OTCQB: HSSHF)
announced today it expects to receive their shipment of 6,000
Rigs (“Rigs”) later this
week, and to be deployed by
end of July 2018. HashChain currently runs 3,495 Rigs in their
mining facilities in Canada and the United States, and upon
deployment of these latest Rigs, will have 9,495 in operation for
14 Megawatts of computing power. In all, 9,395 Rigs will be mining
Bitcoin and 100 will be mining
Dash.
"By the end of next month, we expect HashChain to
have deployed approximately 9,500 Rigs in just eight months since
being listed on the TSXV," says Patrick Gray, CEO and founder of
HashChain. "The catalyst to the Company’s rapid growth in the
cryptocurrency mining space is our ability to acquire a large
repository of Rigs and run them in low cost, low temperature
environments. As the second half of 2018 begins, HashChain remains
committed to scaling the growth of our mining operation even
further.”
With the current 3,495 Rigs deployed, the Company has
mined 39.3 Bitcoin and 15.9 Dash over the 16 day period of June 9 –
24, 2018. Based on coinmarketcap.com prices for both digital
currencies on June 24, 2018 (CAD $7,701, CAD $301 for Bitcoin and
Dash respectively), HashChain accumulated a value of CAD $302,649
from Bitcoin and CAD $4,786 from Dash.
HashChain notes there
are material costs associated with mining and it will need to
complete its next quarterly financial statements to have complete
details. The Company will report full costs associated with mining
in its financial statements. At this time, the Company has not
converted the Bitcoin and Dash into fiat
currency.
About HashChain
Technology
Inc.
HashChain is a
blockchain company, and the first publicly traded (TSXV: KASH; OTCQB: HSSHF) Canadian
cryptocurrency mining company to file a final prospectus supporting
highly scalable and flexible mining operations across all major
cryptocurrencies. HashChain taps low-cost North American power,
cool climate and high-speed Internet: the trifecta most critical to
mining success, to create a competitive position for maximizing the
number of mining 'wins.' HashChain currently operates 100 DASH
mining Rigs and 3,395 Bitcoin Rigs with an additional 6,000 to be
deployed upon successful completion of its recently announced
acquisitions. Once all Rigs are operational HashChain will be
consuming approximately 14 megawatts of power. HashChain also
acquired two Dash Masternodes, which requires a collateral
investment of 1,000 DASH coins for each Masternode.
Diversifying its business strategy beyond crypto mining, the
Company recently acquired NODE40, a blockchain technology company
that developed NODE40 Balance, a new SaaS product making
cryptocurrency tax reporting simpler and more accurate. The
solution allows cryptocurrency users and traders to accurately
report their capital gains and losses. NODE40 is also one of the
leading masternode server-hosting providers for the Dash network
and is seeking additional alternate coin masternode
hosting.
HashChain
Mining is a wholly owned subsidiary of HashChain Technology Inc.
based out of Albany, New York, and an office in Vancouver, British
Columbia.
On Behalf of
the Board,
Patrick
Gray
CEO &
Director
For Further
information please
contact:
HashChain
Technology Inc.
Larry
Heinzlmeir
Vice President,
Marketing &
Communications
Larry@HashChain.ca
604-537-8676
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Cautionary Note
Regarding Forward Looking Statements: Certain disclosure in this
release, including statements regarding the anticipated benefits to
the Company of the anticipated performance of a total of 9,495
Rigs, the expected timing of delivery, the successful completion of
the acquisition and installation of 5,000 rigs by the end of July
2018, and expectations regarding future operations may constitute
forward-looking statements. In making the forward-looking
statements in this release, the Company has applied certain factors
and assumptions that are based on the Company’s current beliefs as
well as assumptions made by and information currently available to
the Company, the 9,495 Rigs will perform as expected by management,
the Company will successfully complete the acquisition and
installation of the 5,000 Rigs and the timing of delivery of the
5,000 Rigs will be consistent with management’s expectations.
Although the Company considers these assumptions to be reasonable
based on information currently available to it, they may prove to
be incorrect, and the forward-looking statements in this release
are subject to numerous risks, uncertainties and other factors that
may cause future results to differ materially from those expressed
or implied in such forward-looking statements; the risk that the
9,495 Rigs will not perform as expected by management, the risk
that the Company will not complete the acquisition of the 5,000
Rigs and the risk that the 5,000 Rigs will not be successfully
delivered and deployed. Readers are cautioned not to place
undue reliance on forward-looking statements. The Company does not
intend, and expressly disclaims any intention or obligation to,
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by law.
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