- 3MW cryptocurrency mining facility to be powered by clean, sustainable low-cost hydropower.
- BlockMint will now be able to directly mine cryptocurrency and potentially offer other crypto miners a safe, low cost sustainable mining location outside China.
- Allows BlockMint to greatly expand its cryptomining capabilities in a green and sustainable manner.
Vancouver, British Columbia–(Newsfile Corp. – June 17, 2021) – BlockMint Technologies Inc. (TSXV: BKMT) (“BlockMint” or the “Company”) is pleased to announce that it has signed an agreement to acquire a facility for cryptocurrency mining located in Manitoba, Canada, which will be powered by clean, sustainable and low-cost hydropower. The facility is currently configured for approximately 3 MW of power to be sourced from Manitoba Hydro. Until recently, the facility operated as a bitcoin mining operation and is being sold to BlockMint without the bitcoin mining rigs. Power costs are highly competitive and there is potential to further expand available power beyond 3 MW. Following the proposed acquisition, BlockMint intends to install cryptocurreny mining hardware either directly purchased and/or through revenue share arrangements with one or more third parties.
BlockMint’s CEO, Nelson Ijih commented, “The potential acquisition of this mining facility represents a major milestone for BlockMint. It will allow us for the first time to directly mine cryptocurrencies. It also supports our…
