Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

Bluesky Provides Bitcoin and Ethereum Mining Update for October Achieves Record Start to a Quarter

Published

on

Toronto, Ontario–(Newsfile Corp. – November 8, 2021) – Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), (“Bluesky” or the “Corporation”) announced today that the Corporation had mined an implied and combined unaudited total of $373,790 CDN worth of cryptocurrencies for the month of October which was achieved via the mining of 2.41 Bitcoin (“BTC”) and via the mining of 42.82 of Ethereum (“ETH”). For further clarification, implied valuations are based on the booking price of the virtual associated cryptocurrency value at the time the mining reward is realized by the Corporation from its mining activities.

The $373,790 CDN mined / booked for the month of October amounted to a record amount mined / booked for the start of a Quarter.

The results were affected by planned maintenance shutdowns of power as the corporation upgraded its primary facility in support of the ongoing expansion of mining capability.

In Q1 of 2021, the Corporation mined $176,842 CDN worth of crypto in the first month of Q1. Q4 2021’s start represents an increase of 111% over Q1’s start. In Q2 of 2021, the Corporation mined $296,266 CDN worth of crypto in the first month of Q2. Q4 2021’s start represents an increase of 26% over Q2’s start. In Q3 of 2021, the Corporation mined $ 318,169 CDN worth of crypto in the first month of Q3. Q4 2021’s start represents an increase of 17% over Q3’s start.

The implied valuation of the BTC amounted to $172,113 CDN and the implied valuation of the ETH amounted to $201,677 CDN for the month of October. The Corporation averaged a daily mining rate of approximately 1.38 ETH and 0.078 BTC per day in October. The percentage split on mining was 46% BTC and 54% ETH. Costs associated in the mining of the 2.41 BTC and 42.82 ETH for the month of October amounted to approx. $165,000 CDN. The costs include electrical, bandwidth, rent, and does not include depreciation on equipment.

Advertisement

The Corporation achieved a $12,057 CDN gross mining average per day from its active mining operations in October vs. the $10,752 CDN gross mining average per day achieved in the month of September which represented a 12% increase over September’s daily total.

As At October 31, 2021, the Corporation held $2,512,500 CDN in unsold cryptocurrencies which represented a 711% increase over the $309,659 CDN that the Corporation held in its unsold cryptocurrency reserve at the end of Q2, 2021. As At October 31, 2021 the reserve comprised of 13.48 BTC and 276.8 ETH.

Ben Gelfand, CEO stated: “As expected, the Corporation has achieved yet another strong month from its active mining operations. We expect to increase our mining performance in the coming months and quarters.”

About Bluesky Digital Assets Corp.

Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence (“AI”) based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale.

Advertisement

For more information please visit Bluesky at: https://www.blueskydigitalassets.com

For further information please contact:

Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833
E: [email protected]

Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
E: [email protected]

Forward-Looking Statements

Advertisement

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation 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 expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.

– 30 –

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102217

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Bybit Receives Georgian VASP License, Strengthening Global Regulatory Presence

Published

on

bybit-receives-georgian-vasp-license,-strengthening-global-regulatory-presence
Continue Reading

Blockchain

Accredited Solutions, Inc. Announces Strategic Acquisition of GlobeTopper, a $37M Revenue Platform Acquisition to Anchor Fintech Strategy

Published

on

Continue Reading

Blockchain

DIGZAX Enhances Collaborative Security System, Pioneering New Heights in Cryptocurrency Trading

Published

on

digzax-enhances-collaborative-security-system,-pioneering-new-heights-in-cryptocurrency-trading

DIGZAX

Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE