HashChain Technology Inc. Opened the Market at TSX Venture Exchange on February 14th
15 Février 2018 - 1:54PM
InvestorsHub NewsWire
"Opening the market is an excellent
opportunity to reflect on the significant execution of the
company’s strategies and the accomplishments we have achieved since
being listed on TSXV in December 2017," said Patrick Gray, CEO and
Founder of HashChain. “HashChain met our ambitious goals by
aggressively expanding mining operations as well as growing the
company beyond mining to include other important blockchain
technologies. By the end of February 2018, HashChain will have
grown from 100 to 870 operational mining rigs across our Vancouver
and Montana data centers, for a total of 1.3 megawatts (MW) of
cryptocurrency mining in ideal conditions to maximize return on
investment. The company also previously announced the signing of
the definitive agreement with NODE40 to acquire 100% of NODE40
assets on January 30, 2018 and the parties are proceeding with
closing the acquisition in the coming days. NODE40, a
software-as-a-service blockchain accounting solution, allows coin
holders to simply and accurately report all past transactions of
Bitcoin, Bitcoin Cash, Ethereum, Litecoin and Dash to the IRS prior
to tax season. It is a step forward as we pivot from mining to a
blockchain company.”
Gray continues, “The company is
poised to continue this momentum with the addition of 5,000 rigs to
our 20 MW Montana data center in shipments of 3,000 by the end of
February which have now been paid for, and 2,000 by the end of
March, for a total of 8.7 MW of power devoted to mining by middle
of this year. The company will also continue to explore new
opportunities to diversify our investments in blockchain
technology, as we have accomplished with the signing of the
definitive agreement with NODE40.”
About HashChain Technology Inc.
HashChain 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 position for maximizing the
number of mining ‘wins.’ HashChain currently operates 100 Dash
mining Rigs, have received 770 Bitcoin Rigs, and has entered into a
purchase order for an additional 5,000 Rigs. Once all Rigs are
operational HashChain will be consuming approximately 8.7 megawatts
of power. HashChain also acquired a Dash Masternode for
approximately USD $280,000 which requires a collateral investment
of 1,000 Dash coins. Diversifying their business strategy
beyond crypto mining, the company recently acquired NODE40, a
blockchain technology company that developed
NODE40 Balance, a new SaaS product making
cryptocurrency tax reporting simpler and more accurate. The
solution allows cryptocurrency users and traders to accurately
report their capital gains and losses to the Internal Revenue
Service via Form 8949. NODE40 is also one of the leading
server-hosting providers for the Dash network. In the now popular
world of distributed Peer-to-Peer (P2P) decentralized blockchain
applications, stability is of paramount importance.
HashChain is based in Vancouver, British Columbia. HashChain Mining
is a wholly owned subsidiary of HashChain Technology Inc. based out
of Albany, New York.
On Behalf of the Board,
Patrick Gray
CEO & Director
For Further information please contact:
HashChain Technology Inc.
Larry Heinzlmeir
Vice President, Marketing & Communications
Larry@HashChain.ca
604-537-8676
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: Certain
disclosure in this release, including statements regarding the
acquisition by the Company of the NODE40 Business and GCPA (the
“Transactions”), including the anticipated benefits to the Company
of the Transactions, the performance of 5,000 Rigs ordered by the
Company, the expected timing of delivery and installation of 770
Rigs and expectations regarding future operations may constitute
forward-looking statements. In making the forward-looking
statements in this release, the Company has applied certain factors
and assumptions that are based on the Company’s current beliefs as
well as assumptions made by and information currently available to
the Company, including that all conditions to the closing of the
Transactions will be satisfied, including receipt of all required
approvals, and the Transactions will complete on the terms set out
in the APA and the SPA, the acquisition of the NODE40 Business will
have the benefits to the Company anticipated by management, the
5,000 Rigs will be successfully ordered and delivered, the 5,000
Rigs will perform as expected by management and the timing,
installation and performance of the 770 Rigs will be consistent
with management’s expectations. Although the Company considers
these assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Such risk factors may include,
among others, the risk that the conditions to the closing of the
Transactions will not be satisfied, including the risk that
required approvals are not obtained, and that the Transactions will
not complete on the terms set out in the APA and the SPA or at all,
the risk that the Transactions, if closed, will not result in the
anticipated benefits to the Company; the risk that the 5,000 Rigs
will not be successfully ordered from the manufacturer or, if so
ordered, that the Rigs will not be delivered to the Company when
expected by management or at all, the risk that the 5,000 Rigs will
not perform as expected by management and the risk that the 770
Rigs will not be delivered to the Company or that the timing of the
delivery and installation or the performance of the 770 Rigs will
not be as expected by management. Readers are cautioned not
to place undue reliance on forward-looking statements. The Company
does not intend, and expressly disclaims any intention or
obligation to, update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as required by law.
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