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Cryptostar Corp. Signs Non-Binding Letter of Intent to Acquire Latest Generation GPU Miners with Total Hashrate of 85,680 MH/s
Cryptostar Corp. Signs Non-Binding Letter of Intent to Acquire Latest Generation GPU Mine...
About this update from Cryptostar Corp.
[{"type":"text","content":"\n \n \n \n Cryptostar Corp. Signs Non-Binding Letter of Intent to Acquire Latest Generation GPU Miners with Total Hashrate of 85,680 MH/s\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSXV: CSTR\n \n \n \n TORONTO\n \n ,\n \n Jan. 13, 2021\n \n /CNW/ - CryptoStar Corp. (TSXV: CSTR) (\"\n \n CryptoStar\n \n \" or the \"\n \n Company\n \n \"), a cryptocurrency mining and data centre operator, is pleased to announce it has signed a non-binding letter of intent (\"\n \n LOI\n \n \") with a\n \n Hong Kong\n \n based company (the \"\n \n Vendor\n \n \") effective January 12, 2021 to acquire GPU miners in exchange for common shares of CryptoStar (the \"\n \n Transaction\n \n \").\n \n \n Highlights of the proposed Transaction:\n \n \n \n Under the terms of the LOI, it is anticipated that CryptoStar and the Vendor will enter into a binding agreement (the \"\n \n Definitive Agreement\n \n \") pursuant to which the Vendor will deliver GPU miners (containing the latest generation GeForce RTX 3000 Series GPU cards), capable of a combined minimum total Hashrate of 85,680 MH/s.\n \n \n \n \n The deployment of 85,680 MH/s of Hashrate using the latest generation GPU miners is expected to contribute 142.80 ETH or\n \n USD$145,473.22\n \n per month in self-mining revenue for CryptoStar. CryptoStar plans to continue to expand its self-mining inventory of mining hardware. (Source:\n \n https://www.cryptocompare.com/mining/calculator/eth\n \n . Mining metrics are calculated based on a network hash rate of 351,248 GH/s and using the ETH - USD exchange rate of 1 ETH =\n \n $1,018.72\n \n updated at 2021-01-13\n \n 00:27:05 UTC\n \n ).\n \n \n \n \n GPU miners are capable of mining cryptocurrencies like Ethereum's ether (ETH), Ethereum Classic (ETC), Zcash (ZEC), Monero (XMR) and many others.\n \n \n \n \n The agreed upon aggregate consideration under the proposed Transaction will be satisfied by the issuance of 20,000,000 common shares of CryptoStar at a deemed value of\n \n C$0.10\n \n per Share (which includes finder's fees of 1,132,075 ...