Hashchain Incorporated as Chortle Capital Corp. in February 2017, the Company changed its name to HashChain Technology Inc. on September 18, 2017, when it acquired HashChain Mining LLC, a New York-based cryptocurrency mining company. Following the acquisition, HashChain Technology discontinued its operations in the U.S. and started mining operations in Vancouver, Canada. HashChain Technology is initially focused on mining Dash and Bitcoin cryptocurrencies utilizing Application Specific Integrated Circuit mining rigs. The Company currently mines 45 Dash coins with 100 rigs and plans to mine Bitcoin in January 2018, and has purchased 770 rigs for the purpose. The Company has ambitious expansion plans of increasing rigs to 13,400 in 2018, 26,600 rigs by 2019, and 46,600 rigs by 2020, for a total mining capacity of 40 MW by 2019, from the current 1.23 MW.
HashChain Technology’s breakeven price could be less than $5K per Bitcoin. If the Company meets or come close to projections of $90M revenue and $78M in EBITDA in 2018, it could trade at 10x sales (premium b/c FCF), or the size of HIVE Blockchain.