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HashChain Technology Deploys 770 Mining Rigs for a Total of 1.23 Megawatts and Continues to Evolve as a Blockchain Company
HashChain Technology Deploys 770 Mining Rigs for a Total of 1.23 Megawatts and Continues t...
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[{"type":"text","content":"\n\n\n\nHashChain Technology Deploys 770 Mining Rigs for a Total of 1.23 Megawatts and Continues to Evolve as a Blockchain Company\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\nCanada NewsWire\nVANCOUVER, March 8, 2018\n\n\n\nVANCOUVER, March 8, 2018 /CNW/ - HashChain Technology Inc. (TSXV: KASH; OTCQB: HSSHF) (\"HashChain\" or the \"Company\") today announced the deployment of 770 mining Rigs (\"Rigs\"). This brings the Company's total number of operating Rigs to 870, and a total of 1.23 megawatts (MW) towards cryptocurrency mining.\n\n\n \n \n\n \nThis latest installation demonstrates continued momentum for the Company and brings the first Rigs online in the 20 MW mining facility in Montana, USA (\"Montana Facility\").  As previously disclosed, an additional purchase order for 3,000 Rigs has been completed with the manufacturer, with the first shipment of 2,000 expected to arrive at the end of March followed by 1,000 expected at the end of April.  Upon deployment of all the 3,000 purchased Rigs, HashChain will have a total of 3,870 Rigs in operation and be mining with approximately 5.8 MW of power.\n\nThis deployment closely follows the Company's acquisition of assets of NODE40 on February 15, 2018, comprised of: a cryptocurrency tax software for coin holders, NODE40 Balance, a masternode hosting service for Dash cryptocurrency, NODE40 Hosting, which alleviates the time requirement and technical hurdles for crypto investors, and the economics of an additional 10 masternodes for 36 months.  \n\nThe Dash network currently rewards each masternode holder 6.67 Dash per month, or .22 Dash per day. As part of the acquisition of the NODE40 business, NODE40 will pay to HashChain certain masternode rewards for a total duration of 36 months following the closing after which time this revenue stream will cease. At the current reward rate of 6.67 Dash per month, the 10 masternodes would be expected to receive a total of approximately 880 coins per year, equating to a value of $674,379 CDN per year based on the Dash-to-CDN conversion rate of&#x...