Vancouver, British Columbia–(Newsfile Corp. – November 9, 2021) – BlockMint Technologies Inc. (TSXV: BKMT) (“BlockMint” or the “Company”) would like to provide further information to its announcement yesterday that it has acquired fifty new S19 Antminers to be installed at a third party hosting facility in Washington state. The cost of the fifty new S19 Antminers was approximately US$530,000. The estimated cost of the lease with the green energy-powered hosting facility over its 18-month initial term is estimated at approximately US$205,000. Hence, the total cost of this cryptocurrency initiative is approximately US$735,000.
BlockMint’s CEO, Nelson Ijih, commented: “This acquisition of Bitcoin mining rigs by the Company is complimentary to our existing mining operations, including the Minter browser which allows users to mine cryptocurrency to earn carbon credits or fractional interests in a NFT. The intent is to continue to scale-up crypto-mining operations as a function of financial results and prevailing market conditions.“
About BlockMint Technologies Inc.
BlockMint, through its wholly owned subsidiary, Blockmint (USA) Technologies Inc., develops distributed systems and networks that enable a more decentralized deployment of blockchain based applications such as cryptocurrency mining. The Company’s Minter browser allows users to use their spare computing power to mine cryptocurrencies to earn either: (i) carbon credits to help offset their carbon footprint; or (ii) fractional ownership in a NFT. The current version of Minter is for use on desktops and laptops with a Windows operating system and is available at getminter.com.
On behalf of
BLOCKMINT TECHNOLOGIES INC.
Nelson Ijih, CEO
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 includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the business strategy and objectives of BlockMint. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. There is further no assurance that the Company will be successful in profitably operating its expanded cryptocurrency mining business in the manner described. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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 required by law.
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