Blockchain
Canada Computational Unlimited (SATO) Signs LOI to Acquire New Miners for Its Center One Facility
Toronto, Ontario–(Newsfile Corp. – December 28, 2021) – Canada Computational Unlimited Corp. (TSXV: SATO) (the “Company”,”CCU.ai” or “SATO”) is pleased to announce the signing of a non-binding letter of intent with Foundry Digital LLC for a transaction that would make it possible for the Company to purchase 700 miners. This addition of an equivalent of 65 PH/s at Center One shows our progress and commitment to reach 600 PHs.
Key Highlights
- Addition of mining equipment for 65 PH/s
- Center One based on the 20MW renewable energy contract will allow CCU.ai to reach an equivalent of 600 PH/s
- The Q3 average to mine 1 Bitcoin in electricity power is USD$ 7,636 based on Q3 Financials*
- Possibility to extend the contract with Foundry to get more miners
Romain Nouzareth, CEO and Chairman of CCU.ai, commented, “This increment is the result of a collaborative effort from both parties and is the first of many that we have planned to reach our capacity of 600 PHs for Center One. This further proves that we are on a path to reaching our targets.”
The Company and Foundry will seek to conclude a definitive agreement prior to the end of January 2022.
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.
*The average cost of electrical power required to mine 1 Bitcoin is a non-IFRS financial measure. We calculate that by first isolating the total cost of electricity for the three months ended September 30,2021 included in the Site Operating Costs on the Company’s Condensed Interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the three months ended September 30, 2021. From the total electricity costs, we isolate the electricity costs related to the operation of the Company’s Bitcoin Miners (excluding hosted miners, Ethereum miners and other non-mining uses of electricity). We then convert that to US$ using the Bank of Canada exchange rate as of September 30, 2021, and divide that by the 20 Bitcoin mined in the three months ended September 30, 2021, as shown in Note 7 to the Company’s Condensed Interim Consolidated Financial Statements. The Company’s calculation of the average cost of electrical power required to mine 1 Bitcoin may not be comparable to similar measures presented by other issuers. The Company believes that this measure, in addition to information prepared in accordance with IFRS, provides investors with useful information to assist in their evaluation of the Company’s performance and ability to generate cash flow from its operations. Accordingly, this measure is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
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.
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/108562
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
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