Business
HashChain Technology Reports Third Quarter Fiscal 2018 Financial Report
(via TheNewswire) VANCOUVER, BC / TheNewswire / July 27, 2018 - HashChain Techno...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"HashChain Technology Reports Third Quarter Fiscal 2018 Financial Report(via TheNewswire)\n \n \nVANCOUVER, BC / TheNewswire / July 27, 2018 - HashChain Technology Inc. (\"HashChain\" or the \"Company\") (TSXV: KASH; OTCQB: HSSHF) today announced its financial and operational results for the quarter ended May 31, 2018. HashChain is a global blockchain company with cryptocurrency mining, accounting, and Masternode hosting services that began operations on November 3, 2017 and subsequently listed for trading on the TSX Venture Exchange on December 18, 2017. As of May 31, 2018, the Company had three wholly owned subsidiaries, HashChain Mining LLC, Global Crypto Public Accounting Ltd., and TG12 Ventures Inc.\n\n\n \n\n\n\n \n\"By following our plan of making strategic acquisitions in order to develop as a marketplace leader in the blockchain technology space, HashChain has achieved substantial asset growth over the last quarter and currently is expected to have 17.5 MW of computing power up and running by September 2018,\" says Patrick Gray, CEO of HashChain. \"In spite of the unpredictability seen this past quarter in the cryptocurrency market, our continued deployment of mining rigs has allowed us to continue to grow our coin inventory.\"\n\n\n \n\n\n\n \nQuarterly Highlights\n\n\n \n\n\n\n \n\n\n- Deployed 3,395 Bitcoin mining rigs\n\n\n\n\n\n- March 8, 2018: 770 rigs deployed\n\n\n\n- April 4, 2018: 1,000 rigs deployed\n\n\n\n- May 30, 2018: 1,625 rigs deployed \n\n\n\n\n\n- Increased total digital currency mining rigs owned to 4,495. \n\n\n\n- Increased total coins mined over second quarter production by 78%. \n\n\n\n- Expanded mining footprint to include two US states to facilitate rapid expansion and further growth opportunities. \n\n\n\n- Purchased a second Dash Masternode.\n\n\n\n- Recognized operating revenue totaling $1,029,837 from digital currency mining, Node40 operations and Dash Masternode rewards.\n\n\n\n\n \n\n\n\n \nRecent Developments\n\n\n \n\n\n\n \n\n\n- On June 15, 2018, the Company entered into definitive share purchase agreements to obtain an additional 5,000 Bitcoin mining rigs. \n\n\n\n \n \n\n\n- On July 5, 2018, HashChain deployed the 1,000 Bitcoin mining rigs from the TG12 Ventures acquisition.\n\n\n\n \n \n\n\n- As of July 18, 2018, 4,000 of the 5,000 Bitcoin mining rigs from the share purchase agreeme...