A similar Blockchain play getting set to take off. VANCOUVER, British Columbia, Nov. 30, 2017 (GLOBE NEWSWIRE) -- Calyx Bio-Ventures Inc. (TSXV:CYX) (“Calyx” or the “Company”) is pleased to announce that its wholly owned subsidiary Canada Blockchain Hosting Corp (“CBH”) a Vancouver based blockchain computing company has acquired and successfully completed the installation and setup of its first cryptocurrency mining and blockchain data validation operation in Kamloops, British Columbia.
This is the second phase of the Company’s objective to integrate a general cryptocurrency mining facility and distributed computing platform into the Company’s existing blockchain business model. This additional computing and hash power will allow CBH to immediately generate additional revenues and significantly enhance the Company’s ability to support the expansion of its private blockchain ecosystem.
This array of units is currently mining BTC, ETH, Decred, Lbry, Zcash, and Pascal, and will expand to cover any other cryptocurrency that may be profitable in the near term. A number of these currencies have seen significant appreciation in the last year.
The acquisition brings 50 high performance mining units, each with 7 GPUs, under CBH's ownership (with rights to acquire another 40 units immediately), which allows for quick expansion and buildout without waiting for new hardware from suppliers. The flexibility of GPU mining versus Asic based mining allows CBH to participate in mining pools which maximizes profitability regardless of the cryptocurrency being mined. All mining proceeds will be paid out in either BTC or ETH depending on profitability at the time.
In addition, the transaction gives CBH access to a second data centre location from which to operate and expand, which is occupied on attractive terms, including advantageous access to and pricing for power and cooling.
The next phase of the Company's cryptocurrency strategy is being built out in its new office headquarters, where the Company is installing 1000 square foot data centre space to accommodate approximately 100 13-GPU mining units, with a view to expanding that to a 7,500 square feet upon completion of negotiations with facility owners.
In consideration for the assets acquired and facility space, Calyx has paid $250,000.
“This is another significant step in the execution of the Company’s strategic plan originally announced in October to integrate next generation blockchain features and services into our commercial platforms,” commented Roger Forde, President & Chief Executive Officer of the Company. “This first phase provides us with a testing ground to streamline our blockchain technology currently being developed for the cannabis e-commerce space, and will generate revenue today that will cover our underlying costs on a month-to-month basis. The Company has sufficient cash in hand to accelerate that plan to the next phase and growth beyond that will be based on opportunities that present themselves.”
About Calyx
Calyx operates through two wholly-owned subsidiaries. Cannigistics Agri-Solutions Corp is a software development company that has created a software platform originally designed for advanced indoor agriculture, but has now evolved to serve a wider range of industries. Canada Blockchain Holdings Corp. is a company operating in blockchain technologies and crypto currencies. Additionally, Calyx owns a portfolio of proprietary intellectual property with applications in crop enhancement, as well as messaging software assets.
For further information about Calyx, please visit www.calyxbio.com or contact:
Roger Forde
President and Chief Executive Officer
Calyx Bio-Ventures Inc.
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