Blockchain innovator confirms it will
have 8600 machines operational by March 31,
2018; and will invest 50% of earnings back into scaling
infrastructure
TORONTO,
Jan. 29, 2018 /CNW/ - One of
Canada's newest publicly traded
blockchain technology companies — CryptoGlobal Corp (TSXV:CPTO)
which begins trading today on the TSX Venture Exchange under the
ticker symbol "CPTO" — confirmed it will have 8600 cryptocurrency
mining machines operating at its Canadian data centre by
March 31, 2018.
On Track to Operationalize 10,000
Cryptocurrency Mining Machines in Canada
CryptoGlobal CEO
Rob Segal says the company expects
to add an additional 1400 machines to its Canadian mining
operations by the end of April 2018. "We're building a
Canadian blockchain technology company for the long-term and are on
track to meet our goal of operationalizing 10,000 machines by the
end of April," says Segal adding that the company is currently
mining four of the world's most popular coins: Bitcoin, DASH,
Litecoin and Ether.
Segal calls cryptocurrency mining "the future of mining in
Canada." He explains that
Canada's access to affordable
renewable power, high speed internet, cold climate and
well-regulated, stable financial markets make it an ideal location
to build out large-scale cryptocurrency mining and FinTech
operations. "Our team is in Canada. Our engineers are
in Canada. And most important of all, our mines are in
Canada," says Segal.
CryptoGlobal to Invest 50% of Earnings in
Scaling Technology / Blockchain R&D
CryptoGlobal expects to invest 50% of total earnings back into
cryptocurrency mining infrastructure and blockchain R&D.
"Investing in scale and the ability to be agile and flexible enough
to shift our hash power as the cryptocurrency and FinTech markets
develop will be a critical part of our ability to deliver value to
our shareholders and be successful over the long-term," explains
CryptoGlobal President James
Millership.
CryptoGlobal – We Power the
Blockchain
CryptoGlobal is a Canadian blockchain
and financial technology company. Our team mines a diverse
portfolio of cryptocurrencies from one of Canada's largest and most efficient mining
operations. Currently, CryptoGlobal focuses on mining
Bitcoin, DASH, Ether and Litecoin – using a mix of custom-tuned
mining technologies.
Learn more about CryptoGlobal and the future of mining at
cryptoglobal.io
Editor's Notes:
What is Cryptocurrency mining?
Think of
CryptoGlobal like the utility company for digital currency
transactions. Instead of powering your house, CryptoGlobal powers
the blockchain.
For digital currency transactions to work; every Bitcoin
or Ethereum transaction needs to be validated and verified by
cryptocurrency miners like CryptoGlobal.
CryptoGlobal uses powerful mining machines — super
computers — to solve complex problems that validate Bitcoin and
other cryptocurrency transactions. Every time CryptoGlobal
solves a problem, its computers create a digital seal known as a
"block" to verify the transaction. Each block is saved to the
blockchain — a virtual ledger that records every digital currency
transaction.
CryptoGlobal gives its energy and computing power to the
blockchain and in return, CryptoGlobal gets little pieces of each
transaction (paid in digital currency) as a
reward.
So far, the company has a large-scale mining operation up
and running in Canada – with
concrete plans to scale its mining machine hash power in Q1
2018. CryptoGlobal currently mines a diverse mix of four
popular cryptocurrencies: Bitcoin, Ether, Dash and
Litecoin.
Learn more at www.cryptoglobal.io
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking
statements, including, but not limited to, statements about
CryptoGlobal's future plans and intentions, the addition and
operationalization of new mining machines, and the Company's
reinvestment plan of its earnings. Wherever possible, words
such as "may", "will", "should", "could", "expect", "plan",
"intend", "anticipate", "believe", "estimate", "predict" or
"potential" or the negative or other variations of these words, or
similar words or phrases, have been used to identify these
forward-looking statements. These statements reflect management's
current beliefs and are based on information currently available to
management as at the date hereof.
Forward-looking statements involve significant risk,
uncertainties and assumptions. Many factors could cause actual
results, performance or achievements to differ materially from the
results discussed or implied in the forward-looking statements.
These factors should be considered carefully and readers should not
place undue reliance on the forward-looking statements. Although
the forward-looking statements contained in this news release are
based upon what management believes to be reasonable assumptions,
the CryptoGlobal cannot assure readers that actual results will be
consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this news
release, and the CryptoGlobal assumes no obligation to update or
revise them to reflect new events or circumstances, except as
required by law.
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.
SOURCE CryptoGlobal Corp.