NEWS: Cypherpunk Holdings Provides Corporate Update May 28 Cypherpunk Holdings Provides Corporate Update
Toronto, Ontario--(Newsfile Corp. - May 28, 2021) - Cypherpunk Holdings Inc. (CSE: HODL) (OTC Pink: KHRIF) (the "Company" or "Cypherpunk"), a sector leader for privacy-focused investments, is pleased to provide the following corporate update.
Equity stake in Chia Network
The Company has been an investor in Chia Network Inc. ("Chia Network") since July 2018, through its investment of USD $300,000 via a simple agreement for future equity (SAFE). Under the terms of the SAFE, on May 10, 2021, the Company received 19,860 shares of Series B Stock of Chia.
Chia Network develops an energy-efficient decentralized blockchain, created by Bram Cohen, the inventor of BitTorrent. In May 2021, Chia Network announced the launch of its digital currency "Chia".
Commenting on this latest update Antanas Guoga, CEO of the Company stated: "We are happy with our decision to invest in Chia Network. The environmental impact caused by cryptocurrencies has been at the forefront of many discussions in the industry and we believe that this is an issue that needs addressing. Chia Network uses spare storage space on hard drives to verify blockchain transactions instead of using the energy-intensive "proof of work" model employed by other cryptocurrencies, which makes Chia an exciting "green" alternative to other digital currencies. We are pleased that Chia Network continues to advance and develop its business."
IPv4 Leasing Arrangement
Following the Company's purchase of 16,384 IPv4 addresses in March 2021, the Company has secured a leasing arrangement. The leasing arrangement is currently generating 14.8% yield per annum on the original investment.
Cash, Cryptocurrency position & Corporate Update
The Company currently holds 360 Bitcoin and over CAD $6,000,000 in cash and is thus well-positioned to further deploy capital and continue to follow its core investment strategy.
About Cypherpunk Holdings Inc.
Cypherpunk is a company that invests in companies, technologies and protocols which enhance or protect privacy. Its strategy is to make targeted investments in businesses and assets with strong privacy. This is often within the blockchain ecosystem, including select cryptocurrencies. Current equity investments include Samourai Wallet, Wasabi Wallet, Chia, NGRAVE and Hydro 66.