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HashChain Technology Acquires 1,000 Bitcoin Rigs from Block One Capital Inc.
(via TheNewswire) HashChain Expected to Operate at 15 Megawatts after Deployment of th...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"HashChain Technology Acquires 1,000 Bitcoin Rigs from Block One Capital Inc.(via TheNewswire)\n \n \nHashChain Expected to Operate at 15 Megawatts after Deployment of these 1,000 Rigs and the 5,000 Rigs Recently Announced\n\n\n \nVANCOUVER, BC / TheNewswire / May 3, 2018 - HashChain Technology Inc. (\"HashChain\" or the \"Company\") (TSXV: KASH; OTCQB: HSSHF) today announced it has signed a definitive agreement (the \"Agreement\") with Block One Capital Inc. (TSXV: BLOK, OTCQB: BKPPF, Frankfurt: ES3) (\"Block One\") to acquire a 100% interest in TG12 Ventures Inc. (\"TG12\"), which owns 1,000 Rigs. Of those, 100 S9 Antiminer Rigs (\"Rigs\") are currently deployed at a Montana, USA mining facility, with an additional 900 planned to arrive in the current quarter.\n\n\n \nAs part of the Agreement, Block One will receive 8.9 million shares of HashChain (\"HashChain Shares\") at a deemed price of $0.35 per share in voluntary escrow whereby 30% of the shares will be released 60 days following the closing date, and 30% will be released 90 days following the closing date. A total of 40% of Block One's HashChain Shares will not be subject to any voluntary escrow. The transaction is subject to customary closing conditions, including the completion of satisfactory due diligence by HashChain and the receipt of TSX Venture Exchange approval. Closing is expected to occur as soon as possible after the closing conditions are satisfied.\n\n\n \n\"By acquiring full ownership of Block One's Bitcoin mining operations, HashChain will gain an additional 1,000 Rigs by the end of the quarter,\" says Patrick Gray, CEO of HashChain. \"HashChain continues to rapidly scale it's mining operations by both purchasing Rigs as well as through strategic acquisitions. Subject to completion of our recently announced acquisitions, we expect to have a total of 9,870 Rigs deployed with approximately 15 megawatts of computing power.\"\n\n\n \n\nHashChain currently operates 1,770 Bitcoin mining Rigs out of their Montana, USA facility, as well as 100 Dash Rigs in their Vancouver mining facility. The company has also purchased and received an additional 3,000 Rigs and recently announced entering into agreements to acquire a company with 1,000 Rigs, and another company with 5,000 Rigs which are all expected to be deployed by the end of June 2018.\n\n\n \n\n\n\n \nAbout Ha...