Business
HashChain Technology Provides Updates
(via TheNewswire) Vancouver, British Columbia / TheNewswire / December 17, 2017 ...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"HashChain Technology Provides Updates(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / December 17, 2017 - HashChain Technology Inc. (\"HashChain\" or the \"Company\") is pleased to provide an update on its operations and its previously announced approval for listing on the TSX Venture Exchange (\"TSXV\"). The common shares of HashChain will commence trading on the TSXV effective Monday, December 18, 2017 under the symbol \"KASH\".\n\n \n \nAs previously disclosed, the Company is initially focusing resources on mining Dash and Bitcoin cryptocurrencies utilizing Application Specific Integrated Circuit mining rigs, which are high-performance computer systems used for cryptocurrency mining. The Company is currently operating Dashmining rigs (the \"Dash Rigs\") which commenced mining on November 3, 2017 and approximately 45 Dash coins have been mined to date. The Company has purchased 770 Bitcoin rigs (the \"Bitcoin Rings\") which are expected to be received and installed to commence mining in January 2018. \n\n\n \nThe Company wishes to provide more information with respect to the two rig types referred to above. The Dash Rigs and Bitcoin Rigs are each considered to be the most powerful available in the marketplace currently in terms of hash-rate. The strength of a machine is measured in terms of its hash-rate and electricity use. A machine that has a higher hash-rate and uses less electricity than an alternative machine is considered more powerful because it can mine more coins while using less power. The hash-rate measures how powerful a miner's machine is. Specifically, it measures the number of times a hash function can be computed per second. A higher hash-rate is better when mining as it increases your opportunity of finding the next block and receiving the reward. The Bitcoin Rigs have a hash power of 13.5 TH/s and consumes power at 1500 Watts of electricity per hour. The Dash Rigs have a hash rate of 22 Gh/s and consumes power at 810 Watts.\n\n\n \nIn addition to mining digital currency, the Company has also acquired a Dash Masternode for approximately USD $280,000 which requires a collateral investment of 1,000 Dash coins. Based on current prices as of December 15, 2017, the Masternode investment is worth approximately USD $880,000. By holding this investment, Hashchain receives the right to participate ...