VANCOUVER, British Columbia, July 17, 2018 (GLOBE NEWSWIRE) -- GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE:BLOC) (CSE:BLOC.CN) (CSE:BLOC.CNX) (FSE:BWSP) (OTC:BLKCF)("BLOC") is pleased to announce the commencement of trading of Global Blockchain Mining Corp. (“Blockchain Mining” or the “Company”) common shares on the Canadian Securities Exchange (CSE) under the ticker symbol “FORK” effective at the open on July 18, 2018.
The Company is initially focusing on mining Bitcoin utilizing Application Specific Integrated Circuit (ASIC) mining rigs (“Bitcoin Mining Rigs”). The Company currently owns 9,666 Bitcoin Mining Rigs and is currently operating 1,040 of those Bitcoin Mining Rigs. An additional 3,960 Bitcoin Mining Rigs are expected to be installed and operating by the end of July 2018; and the remaining 4,666 Bitcoin Mining Rigs are expected to be installed and operating by September 2018. Blockchain Mining is expecting the delivery of an additional 1,000 Bitcoin Mining Rigs within 30 days, which are expected to be installed and operating by September 2018. The Company has also agreed to purchase an additional 10,000 Bitcoin Mining Rigs which are expected to be received and installed to commence mining in August 2018. With all 20,666 Bitcoin Mining Rigs in full operation, Blockchain Mining’s initial energy consumption dedicated to digital currency mining is approximately 13.5 megawatts.
The Company’s initial mining operations are hosted at a facility in Montreal, Canada and New York, USA. In addition to the full operation of the Company’s 20,666 Bitcoin Mining Rigs by September 2018, Blockchain Mining also owns a 25-per-cent interest in Distributed Consensus Platform (“DISCO”) (Formerly known as Distributed Mining Inc.), a blockchain software company creating software that enables all devices to have the ability to participate in mining cryptocurrency. The software will be available to be downloaded through DISCO or through its partner sites. Connected devices will then be able to activate mining operations through their devices (including, but not limited to, mobile phones and gaming consoles).
DISCO would allow anyone with a connected device to download and install a software packet, giving the user access to optimized cryptocurrency mining. The distributed Consensus Platform will be able to optimize for variable mining requirements, and its design is particularly well suited for gaming consoles, of which there are over 100 million currently connected units. Gaming consoles contain stronger processing power than that found in typical laptop/desktop computers, making them the perfect environment to deploy the distributed consensus platform as individuals are able to put their resting consoles to work, earning them valuable cryptocurrency tokens.
In addition to the 25-per-cent interest in DISCO, Blockchain Mining has access to 50 megawatts of capacity, with 35 megawatts of capacity available immediately, through the Manitoba joint venture and 25 megawatts of capacity, with 10 megawatts of capacity available immediately, through its wholly owned Mozambique facility. The Mozambique facility will host Blockchain Mining machines and/or seek joint ventures for the rapid procurement of cryptocurrency miners. These two facilities have an average power cost of three U.S. cents per kilowatt-hour.
The Company's $2 mil investment in Spectra7 Microsystems with whom BLOC is in active conversation over collaboration and implementation of the dynamic range of new tools being brought to market with the following benefits to blockchain systems and our mining business including:
- Breakthrough low power: up to 80-per-cent-less power consumption than competing solutions;
- High performance: scalable server and switch line rates from 25 billions of bits per second to 400 billions of bits per second; and
- Low cost: typically 50 per cent the cost of competing solutions
- Development of the world's first System on a Chip including HVAC units and TV set-top boxes with crypto-mining capabilities, aimed at mass consumer devices, in potential J/V with one of the world's foremost consumer electronics manufacturers.
On behalf of the Company:
Shidan Gouran, President and CEO
info@globalblockchain.io
For more information, please contact:
IRTH Communications, LLC
ir@globalblockchain.io