Santo Mining & Canoe Pool Corporate Update
November 16 2017 - 8:45AM
InvestorsHub NewsWire
Santo Mining & Canoe Pool Corporate
Update
Doral, FL -- November 16, 2017 -- InvestorsHub NewsWire -- Santo
Mining Corp. (the "Company"), (OTCBB:SANP)
today both Companies jointly provided an update on the status of
the meeting held on November 14, 2017. The board members of
Canoe Pool and Mr. Matthew Arnett had a working day meeting in
Chengdu China regarding the ongoing cooperation. The meeting
focused on developing a three-phase approach to the cooperation
between both companies. The first phase is the development
and implementation of Canoe Pool America’s Pool management system.
Which is currently moving ahead as planned. This consists of
the development of a Bitcoin BTC mining pool management software
server for mining hardware systems owned and operated by Canoe Pool
America and independent miners to be managed by Canoe Pool America.
This mining pool management software is for the tracking and
payout among other management controls of mined Bitcoin BTC
blockchains. The ETA of completion is year-end 2017.
Currently the Company has shipped 10 systems that will arrive
between 7 to 10 days. The systems are 4-E9,
2-BlackTigerSharks, 2-Bitmain S9 & 2-Ebang; once arrived in
America our CTO Mr. Bansbach will be doing beta testing on power
consumption, heat dissipation & hash mining time rate,
including synchronization of the mining pool management software.
Once we have establish a baseline, we will move forward in
the initial purchase order of 100 to 200 machines for the Canoe
Pool America mining location, to be announced in the very near
future. The goal is to have over 2,000 owned and operated
hardware mining systems, by todays Bitcoin BTC value the monthly
profit for each mining system is between $380 to $420.
The second phase will be the development of Bitcoin Cash BTH mining
pool management server for the mining of Bitcoin Cash BTH by Canoe
Pool America; the ETA is middle to end of Q1 2018. Bitcoin
Cash is a new hard fork and this fork has a change to the
decentralized currency’s consensus rules and aims to upgrade the
network’s Difficulty Adjustment Algorithm (DAA), making mining much
faster to achieve rewards.
The third phase will be intended to assess current business facts
and leverage the knowledge gained over the past half year of Canoe
Pool America mining operation to capture any material
value-enhancing opportunities in preparation and approval of a
joint venture between both companies.
Mr. Matthew Arnett Vice President of Santo Mining stated;
“The directors of both companies are in regular open dialogue and
have undertaken significant preparation to complete phase one.
Our goal is long-term shareholder value; this will be done by
ensuring that each company has a clear understanding of capital
resources, market knowledge, technical innovation to better deliver
superior mining blockchain payouts for the pool and its members.”
Additionally Mr. Li Ang CEO of Canoe Pool stated; “We were so
excited to meet with Matt Arnett in Chengdu on November 14th 2017.
Together we are developing what we hope to soon be the world's best
and biggest Bitcoin Cash Pool. We are committed to building the
Americas with Santo who is our most vital and strategic partner. I
first priorities is building the Americans pools hash rate and
mining capacity. We want to invite all Americans to join the
movement-revolution.”
About Chongqing Yuhuan Technology Co., Ltd a.k.a. Canoe Pool
(www.canoepool.com)
Canoe Pool (Chongqing Yuhuan Technology Co., Ltd ), led by its
founder Li Ang since 2013, is one of the fastest growing Bitcoin
mining companies in China with two large-size mining farms in
Sichuan and Xinjiang, China; and with a total capacity of 75
thousand kilowatts, accommodating up to 50 thousand of the latest
Bitmain S9 mining machines. Canoe pool has a total hashrate
potential of 700P. Miners can choose between PPS or PPLNS
payment systems with fees of 2% or 4%, accordingly. Canoe Pool
currently supports Bitcoin Unlimited and represents 1.7% of the
global crypto currency mining market share.
About Santo Mining Corp.
About Santo Mining Corp. Santo Mining Corp, a publicly traded
company in the Over-the-Counter (OTC) market, trading under the
ticker symbol SANP. Formally an analog mining company in the gold
and copper sector, it has now focused on the digital cryptocurrency
mining and transactions operations. Our goal is to make mining
accessible to all users regardless of age, location, investment,
and technical experience. We want to give our miners the
opportunity to try out cryptocurrency mining pool and earn
cryptocurrency rewards. On a larger scale, we hope to contribute to
the development of mining services and subsequently to the
development, establishment and adoption of cryptocurrencies both as
a currency and as an economic system.
Media contacts:
Mr. Matthew Arnett
844.420.4203
info@santomining.io
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or
management's intentions, plans, beliefs, expectations or
predictions of future events, are forward-looking statements. The
words "believe," "expect," "intend," "estimate," "anticipate,"
"will" and similar expressions are intended to further identify
such forward-looking statements, although not all forward-looking
statements contain these identifying words. Those statements are
based on many assumptions and are subject to many known and unknown
risks, uncertainties and other factors that could cause the
Company's actual activities, results or performance to differ
materially from those anticipated or projected in such
forward-looking statements. The Company cannot guarantee future
financial results; levels of activity, performance or achievements
and investors should not place undue reliance on the Company's
forward-looking statements. No information contained in this press
release should be construed as any indication whatsoever of the
Company's future financial performance, future revenues or its
future stock price. The forward-looking statements contained herein
represent the judgment of the Company as of the date of this press
release, and the Company expressly disclaims any intent, obligation
or undertaking to update or revise such forward-looking statements
to reflect any change in the Company's expectations with regard
thereto or any change in events, conditions or circumstances on
which any such statements are based. No information in this press
release should be construed as any indication whatsoever of the
Company's future revenues or results of operations.
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