Blockchain Power (TSXV: BPWR.UN) Commissions Hashtank H40
TORONTO - August 3, 2018 (Investorideas.com Newswire) Blockchain Power Trust ("Blockchain Power" or the "Trust") (TSXV: BPWR.UN) is pleased to announce that it has commissioned the Hashtank H40 from Green Revolution Cooling, Inc. ("GRC") at one of its blockchain facilities in Romania. The H40 unit contains GRC's proprietary liquid immersion cooling system that has been paired with Bitcoin specific integrated circuits that will deliver an estimated 6 Petahash against a maximum baseload consumption of 670 kW.
Mr. J. Colter Eadie, Chief Executive Officer of Blockchain Power, commented: "We are very pleased to announce the commissioning of the Hashtank H40, which brings our Bitcoin focused mining operations up to 27 PH/s. The installation of the Hashtank H40 gives the Trust both modular and traditional data center operations with a total baseload draw of 3 MW that are supplied by our own clean energy sources within Romania. We have gained invaluable insight in the development of this infrastructure and believe that we continue to be well positioned to take advantage of opportunities in the market in both renewable energy and blockchain infrastructure where we can bring value through our knowledge and insight at their convergence."
For further information please contact:
J. Colter Eadie
Chief Executive Officer
+351 938 810 979
Chief Financial Officer
About Blockchain Power
The Trust, through its direct and indirect subsidiaries in Canada, the Netherlands and Romania, has been formed to acquire interests in renewable energy assets in Romania, other countries in Europe and abroad that can provide stable cash flow to the Trust and a suitable risk-adjusted return on investment. The Trust seeks to provide investors with long-term, stable distributions, while preserving the capital value of its investment portfolio through investment, principally in a range of operational assets, which generate electricity from renewable energy sources, with a focus on solar and hydro power. The Trust intends to qualify as a "mutual fund trust" under the Income Tax Act (Canada) (the "Tax Act"). The Trust will not be a "SIFT trust" (as defined in the Tax Act), provided that the Trust complies at all times with its investment restriction which precludes the Trust from holding any "non-portfolio property" (as defined in the Tax Act). All material information about the Trust may be found under Blockchain Power's issuer profile at www.sedar.com.
Statements in this press release contain forward-looking information. Such forward-looking information may be identified by words such as "anticipates", "plans", "proposes", "estimates", "intends", "expects", "believes", "may" and "will". The forward-looking statements are founded on the basis of expectations and assumptions made by the Trust. Details of the risk factors relating to Blockchain Power and its business are discussed under the heading "Business Risks and Uncertainties" in Blockchain Power's annual Management's Discussion & Analysis for the year ended December 31, 2017, a copy of which is available on Blockchain Power's SEDAR profile at www.sedar.com. Most of these factors are outside the control of the Trust. Investors are cautioned not to put undue reliance on forward-looking information. These statements speak only as of the date of this press release. Except as otherwise required by applicable securities statutes or regulation, Blockchain Power expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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