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HashChain Technology Announces That a Total of 8,495 Cryptocurrency Mining Rigs Are Operational 2,000 Additional Rigs Are Deployed
(via TheNewswire) Vancouver, BC, July 18, 2018 / TheNewswire / - HashChain Tec...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"HashChain Technology Announces That a Total of 8,495 Cryptocurrency Mining Rigs Are Operational 2,000 Additional Rigs Are Deployed(via TheNewswire)\n \n \nVancouver, BC, July 18, 2018 / TheNewswire / - HashChain Technology Inc. (\"HashChain\" or the \"Company\") (TSXV: KASH; OTCQB: HSSHF) announced today it has deployed an aggregate total of 4,000 of the 5,000 cryptocurrency mining rigs (\"Rigs\") from the shipment of Rigs previously announced on April 25, 2018. This milestone is a significant step for the Company, having focused on the aggressive acquisition and deployment of Rigs bringing the total number of the Company's operational Rigs to 8,495 since listing on the TSXV in December 2018.\n\n\n \n\"With the installation of the additional 2,000 Rigs, all of HashChain's 8,495 deployed Rigs are operating in data centers with low temperature and electricity costs to yield the best return on investment,\" says Patrick Gray, CEO and founder of HashChain. \"When the Company first listed, our desire was to acquire and deploy enough Rigs to operate at 14 megawatts of power by the end of the first year. With the installation of the additional 2000 Rigs, we are on track to achieve that goal. Moving forward, HashChain plans to continue to look for opportunities to onboard more Rigs and increase our mining capabilities.\"\n\n\n \nPrior to the most recent deployment, HashChain was operating with 6,495 Rigs, which mined 83.12, Bitcoin and 40.04 Dash over the period of June 9, 2018 and July 13, 2018. Based on coinmarketcap.com prices for both digital currencies on July 14, 2018 (CAD $7,788, CAD $277 for Bitcoin and Dash respectively), HashChain accumulated a value of CAD $647,339 from Bitcoin and CAD $11,091 from Dash.\n\n\n \nHashChain 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.\n\n\n \nAbout HashChain Technology Inc.\n\n\n \n \n\n\n \nHashChain 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 cry...