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HashChain Technology Signs Definitive Agreements to Acquire 2,500 Bitcoin Rigs
(via TheNewswire) HashChain is Expected to Operate 17.5 Megawatts of Computing Power a...
About this update from Intellabridge Technology Corp.
[{"type":"text","content":"HashChain Technology Signs Definitive Agreements to Acquire 2,500 Bitcoin Rigs(via TheNewswire)\n \n \nHashChain is Expected to Operate 17.5 Megawatts of Computing Power after the Successful Acquisition and Deployment of these additional 2,500 Rigs and the Deployment of the Previously Announced 1,000 Rigs\n\n\n \nVANCOUVER, BC / TheNewswire / July 26, 2018 - HashChain Technology Inc. (\"HashChain\" or the \"Company\") (TSXV: KASH; OTCQB: HSSHF) is pleased to announce that it has signed definitive agreements (the \"Agreement\") with Bitcomputing Management Ltd., and CryptoCommerce Technologies Ltd. (the \"Targets\") to acquire a 100% interest in each of the Targets, which collectively own an aggregate of 2,500 Rigs. These Rigs are expected to arrive in the current quarter.\n\n\n \n\n\n\n \nAs part of the Agreement, the shareholders of the Targets will receive on closing, an aggregate of 57.4 million shares of HashChain (\"HashChain Shares\") at a deemed price of $0.17 per share. The transaction is subject to customary closing conditions, including the completion of satisfactory due diligence by HashChain and the receipt of TSX Venture Exchange approval. Closing is expected to occur as soon as possible after the closing conditions are satisfied.\n\n\n \n\"By agreeing to acquire full ownership of the Bitcoin mining operations of Bitcomputing Management Ltd., and CryptoCommerce Technologies Ltd., HashChain is expected to bring into operation an additional 2,500 Rigs by the end of the quarter,\" says Patrick Gray, CEO of HashChain, \"HashChain plans to continue to scale its mining operations by both purchasing Rigs and continuing to look for opportunities to onboard more Rigs to increase our mining capabilities. Subject to the completion of our recently announced acquisitions, we expect to have a total of 11,995 Rigs with approximately 17.5 megawatts of computing power.\"\n\n\n \n\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 cryptocurrencies. HashChain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive...