Clean Energy Bitcoin Mining Joint Venture Agreement Signed by Link Global Technologies and Neptune Digital Assets
April 12 2021 - 2:13PM
NEPTUNE DIGITAL ASSETS CORP. (“Neptune” or the “Company”)
(TSX-V:NDA; OTC:NPPTF; FSE:1NW) is pleased to provide an update on
its planned expansion into renewable energy Bitcoin (“BTC”) mining.
The Company and LINK GLOBAL TECHNOLOGIES INC. (CSE: LNK; FRA: LGT;
OTC: LGLOF) (“LINK”) have incorporated a joint venture company,
Pure Digital Power Corp. (“Pure”), and in connection therewith, the
Company, Link and Pure have entered into a shareholders’ agreement
governing the management of Pure. Pure is a power and Bitcoin
mining infrastructure company with an emphasis on clean sustainable
energy.
Through Pure, Neptune and Link have agreed to
develop an initial 5 megawatt (“MW”) renewable energy dominated BTC
mining facility in Alberta, with potential for expansion and
scaling. Establishing Pure and entering into the corresponding
shareholders agreement follows shortly after the March 19, 2021
announcement of the proposed joint venture between LINK and Neptune
to develop a green energy facility. All BTC mined under Pure’s
operation are expected to be held in the treasury for reinvestment
and decentralized finance (defi) based earnings, similar to
Neptune’s current approach to treasury and asset management.
Highlights:
- Pure is a joint venture company owned equally by LINK and
Neptune — sharing equally in costs and crypto based revenues
- The first Pure site will be in Alberta, Canada where LINK
operates the majority of its BTC mining operations
- The Pure site will be powered by clean energy sources — Solar,
wind, and minimal natural gas
- Focused on development of a Pure
carbon credit token or NFT
Neptune’s President and Chief Executive Officer,
Cale Moodie, commented: “We are extremely excited with our second
foray into Bitcoin mining with Link, and an environmentally
sustainably focused operation at that. We see the future of Bitcoin
mining to be an environmentally sustainable one and this flagship
operation is likely to be the first of many facilities to be
developed using green sources.”
Link’s President and Chief Executive Officer,
Stephen Jenkins, also commented: “The creation of Pure is the
perfect step in the evolution of Link. We have found a like-minded
partner in Neptune who understands the value of green energy and
sees the same business opportunity in creating a sustainable path
for the energy requirements of BTC mining. The Pure 5 MW facility
is only the beginning of what we expect will be an innovative and
profitable relationship.”
About Neptune Digital Assets
Corp.Neptune Digital Assets aims to be a cryptocurrency
leader with a diversified portfolio of investments and
cryptocurrency operations across the digital asset ecosystem
including bitcoin mining, tokens, proof-of-stake cryptocurrencies,
decentralized finance (defi) and associated blockchain
technologies.
About Link Global Technologies
Inc.Link is engaged in providing infrastructure and
operating expertise for digital mining and data hosting operations.
Link’s objectives include locating and securing, for lease and
option to purchase, properties with access to low-cost, reliable
power, and deploying this low-cost power to conduct digital mining
and supply clean energy and infrastructure for other data-hosting
services.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEONeptune Digital
Assets Corp.1-800-545-0941www.neptunedigitalassets.com
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
This release contains certain “forward looking
statements” and certain “forward-looking information” as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as “may”, “will”, “expect”,
“intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans”,
“proposes” or similar terminology. Forward-looking statements and
information include, but are not limited to, the completion of
Pure’s first 5 MW BTC mining facility; the ability of Pure to be
profitable; the Company’s future earnings and operating costs; the
Company’s future growth in total assets; the Company’s strategy to
purchase crypto currency and optimize its crypto portfolio; the
Company’s ability to effectively dollar cost average its purchases
of crypto currency; and the future outlook of the crypto currency
market generally. Forward-looking statements and information are
based on forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties, and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of the Company to control or predict, that may cause
the Company’s actual results, performance or achievements to be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including but not limited to: the
inherent risks involved in the cryptocurrency and general
securities markets; the Company’s ability to successfully mine
digital currency; revenue of the Company may not increase as
currently anticipated, or at all; the Company may not be able to
profitably liquidate its current digital currency inventory, or at
all; a decline in digital currency prices may have a significant
negative impact on the Company’s operations; the volatility of
digital currency prices; uncertainties relating to the availability
and costs of financing needed in the future; the inherent
uncertainty of production and cost estimates and the potential for
unexpected costs and expenses, currency fluctuations; regulatory
restrictions, liability, competition, loss of key employees and
other related risks and uncertainties. The Company does not
undertake any obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
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