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HashChain Technology Releases Fourth Quarter and Full Year 2018 Financial Results
(via TheNewswire) VANCOUVER, BC / TheNewswire / December 27, 2018 - HashC...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"HashChain Technology Releases Fourth Quarter and Full Year 2018 Financial Results(via TheNewswire)\n \n \nVANCOUVER, BC / TheNewswire / December 27, 2018 - HashChain Technology Inc. (\"HashChain\" or the \"Company\") (TSXV: KASH; OTCQB: HSSHF) today announced its results for the fourth quarter and full year ended August 31, 2018. \n\n\n \n\"In our first full year of operations we have successfully managed to reach our organizational goal of becoming a leader in the blockchain technology space,\" said Patrick Gray, CEO of HashChain. \"Despite volatility in the cryptocurrency market, the strategic acquisitions we made throughout the year enabled us to significantly grow our asset base and has put us in a favorable position to continue to grow our inventory of newly minted coins.\" \n\n\n \nQuarterly Highlights\n\n\n \n\n\n\n \n\n\n- Deployed 5,000 Bitcoin mining rigs.\n\n\n\n- Increased total digital currency mining rigs owned to 11,995. \n\n\n\n- Increased total coins mined over third quarter production by 68%. \n\n\n\n- Recognized operating revenue totaling $2,102,397 from digital currency mining and Dash Masternode rewards.\n\n\n\n\n \nFY 2018 Highlights\n\n\n \n\n\n- Generated revenues of $3,369,846 from mining of digital currencies and Dash Masternode rewards. \n\n\n\n- Mined over 600 newly minted coins, including fourth quarter production of approximately 400 coins. \n\n\n\n- Raised gross proceeds of $30 million of growth capital during the year to finance rapid development and future growth opportunities and investments. \n\n\n\n- Through purchases and acquisitions increased the Company's digital currency mining power in production to 15 MW. \n\n\n\n- Net loss of $37,745,973 for the year, including one-time equipment impairment charge of $16.5M and loss from discontinued operations related to the sale of the NODE40 software of $9.3M. \n\n\n\n\n \nA comprehensive discussion of HashChain's financials and operations are provided in the Company's \"Management Discussion & Analysis and Financial Statements\" filed with SEDAR and can be found on www.sedar.com.\n\n\n \nRecent Developments\n\n\n \n\n\n- On November 14, 2018, through its wholly owned subsidiary, Global Crypto Public Accounting LTD., the Company entered into an asset purchase agreement to sell its proprietary software and assets related to the NODE40 software pla...