Blockchain
Bitcoin Miner Canada Computational Unlimited Corp. Commences Trading as “SATO”
Toronto, Ontario–(Newsfile Corp. – September 16, 2021) – Canada Computational Unlimited Corp. (TSXV: SATO) (the “Company” or “CCU.ai”) is pleased to announce that it has been approved for trading on the TSX Venture Exchange (the “TSXV“) at the opening of the market day as of September 16th, 2021 under the stock symbol ‘SATO‘.
For information on Canada Computational Unlimited Corp. please visit www.ccu.ai. For upcoming investor events and company updates please subscribe here: CCU_Updates
Key Highlights
- Fully operational, high-grade, 100% renewable energy crypto mining facility in place
- Successfully mining Bitcoins since 2017 and Ethereum since 2021
- 150 PHs equivalent of Mining Power with around 7.5MW of energy running now
- 12.5MW of energy remaining to be built in Joliette center for reaching a possible equivalent of 600 PHs of mining power, with intention for more centers to come for future growth
- Utilizing renewable energy to support high-grade crypto-mining, AI data processing, and fintech infrastructure
- Team to increase and advance our large-scale mining fleet software
- All coins are newly minted and traceable. 3 years of audited accounts with Raymond Chabot Grant Thornton/Catallaxy
- Established by Mathieu and Romain Nouzareth, two French “serial entrepreneurs” with recent backing of True Global Ventures, one of the fastest-growing blockchain equity funds, which just closed a $100 million raise.
Romain Nouzareth, CEO and Chairman of CCU.ai commented “We are excited to bring this opportunity to market. Renewable Energy is the driving force of the future and sustainable infrastructure that will support computing power is critical to this green energy transition. CCU.ai presents investors with an opportunity to participate in a resource efficient investment and the crypto market respectively. We are also delighted to have obtained the SATO ticker as an homage to Satoshi Nakamoto and the Bitcoin White Paper published in 2008.”
For full terms on the transaction please reference the release available on www.ccu.ai dated September 07, 2021.
On behalf of the board,
Romain Nouzareth,
CCU.ai CEO and Chairman
About CCU.ai
CCU.ai operates a state-of-the-art, carbon-neutral bitcoin mining center with a contract of 20 MW of stable, eco-friendly energy. The company’s high-density calculation centers are built for high-grade cryptocurrency mining, AI data processing, and fintech infrastructure.
Founded in 2017, CCU.ai is led by technology entrepreneurs, electricity and ventilation experts, network specialists, and Canadian industrialists. Since its inception, the company has pursued a vision of environmental stewardship throughout the mining process. The excess supply of renewable energy in the province of Québec has made this endeavor feasible and a great base for growth.
About True Global Ventures
True Global Ventures 4 Plus (TGV 4 Plus) (https://www.tgv4plus.com/) is a global Venture Capital firm, regulated in Singapore, built by a group of very experienced entrepreneurs with a solid track record investing their own money together with Limited Partners into early-stage and late-stage ventures run by serial entrepreneurs leveraging Technology, Data, AI and Blockchain as a competitive advantage to drive change with proven products. TGV 4 Plus invests in Equity across 4 main verticals: Infrastructure, Financial Services, Data Analytics & AI, and Entertainment, in companies which are using the latest technology including the Blockchain / Distributed Ledger Technology. Made by serial entrepreneurs for Serial Entrepreneurs, the TGV 4 Plus Fund has a presence in 20 cities across the globe. Based out of Singapore, Hong Kong, Taipei, Seoul, Dubai, Moscow, London, Stockholm, Paris, Warsaw, New York, San Francisco, Vancouver among others. True Global Ventures closely supports the portfolio companies to accelerate growth in new markets, expand internationally, introduce new clients, build management teams, establish new partnerships and leverage on 3000+ B2B relationships across the globe.
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 Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements, including statements relating to the Transaction and certain terms and conditions thereof, the ability of the parties to complete the Transaction, the Consolidation, the Exchange Ratio, the Name Change, the Resulting Issuer’s ability to qualify as a Tier 1 Life Sciences issuer, the TSXV sponsorship requirements, the finding of a sponsor, shareholder, director and regulatory approvals, future press releases and disclosure, and other statements that are not historical facts. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. As a result, the Corporation cannot guarantee that the Transaction will be completed on the terms described herein or at all. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Corporation cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release, and the Corporation assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
For additional information, please contact:
Caroline Klukowski
Tel: 604.260.5490
[email protected]
Canada Computational Unlimited Corp. (“CCU.ai”)
INVESTORS can read more about CCU high-grade, carbon-free bitcoin mining and ESG vision at: www.ccu.ai/investors
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96750
Blockchain
Supply Chain Finance Market Forecast to Reach $9.4 Billion by 2029: Increasing Emphasis on Sustainable Sourcing
Global Supply Chain Finance Market
Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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