Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

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
Stake.com

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
Stake.com

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
Stake.com

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

New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

Published

on

new-seed-stage-vc-fund-from-finland-secures-e6-million-in-initial-close-for-e30-million-blockchain-fund

Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

Advertisement
Stake.com

The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

Advertisement
Stake.com
Continue Reading

Blockchain

Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

Published

on

riot-platforms-acquires-14%-stake-in-bitfarms-ltd.

Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

Advertisement
Stake.com

Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

Advertisement
Stake.com

Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

Continue Reading

Blockchain

Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation

Published

on

manta-foundation-unveils-$50m-ecofund-to-foster-blockchain-innovation

The Manta Foundation has launched its $50 million EcoFund to build a robust ecosystem for leading blockchain projects, as per Manta Network. This initiative demonstrates the foundation’s commitment to funding opportunities and developer support for innovative blockchain ventures.

Funding and Support Opportunities
Starting June 15th, the one-year EcoFund will offer significant financial support through its Ecosystem Grant Program, which provides early-stage projects with grants of up to $50,000. This initial funding is crucial for bringing innovative ideas to life.

Additionally, the EcoFund dedicates $35 million for direct investments in promising projects on the Manta Network. These strategic investments aim to foster high-growth ventures that align with Manta Network’s long-term objectives, promoting a collaborative and mutually beneficial environment.

Diverse Project Focus
The Manta Foundation supports a broad range of projects across sectors such as DeFi, Gaming, NFTs, and more. These initiatives are chosen for their potential to drive consumer adoption and significantly enhance the Manta Network ecosystem.

Advertisement
Stake.com

Applications for the EcoFund are accepted on a rolling basis, ensuring ongoing funding and support opportunities. The foundation prioritizes projects with robust business models and scalability, aiming to ensure the ecosystem’s financial health and sustainability.

Specialized Funding Categories

In addition to general grants, the EcoFund targets specific high-growth areas:

– AI/DePIN: Focused on using AI and Decentralized Physical Infrastructure Networks for sustainable solutions.
– Zero-Knowledge: Investments in zero-knowledge technology to boost privacy and security in the blockchain space.
– Memecoins: The Moon Mission Grant supports the development and growth of meme projects on Manta Pacific, fostering a vibrant memecoin culture.

Events and Hackathons
To further enrich the ecosystem, the Manta Foundation has allocated $5 million for online and offline events and hackathons. These events aim to attract new developers and users, fostering a culture of innovation and collaboration within the Manta Network community.

Advertisement
Stake.com

Source: blockchain.news

The post Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation appeared first on HIPTHER Alerts.

Continue Reading
Advertisement
Stake.com
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