NEWS: Neptune Expands Bitcoin Mining Operations https://www.stockwatch.com/News/Item/Z-C!NDA-3107966/C/NDA
Neptune Expands Bitcoin Mining Operations with Secured Order of Next-Gen Mining Machines
2021-07-07 07:04 ET - News Release
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2021) - NEPTUNE DIGITAL ASSETS CORP. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a leader in diversified cryptocurrency and blockchain assets, is pleased to announce that it has secured the purchase of new next-generation mining machines for its continued strategy to scale its Bitcoin mining operations.
The mining machines were sourced through Neptune's growing network of global blockchain partners providing it with the highest performing mining hardware available. The Antminer S19 Pro is the latest generation Bitcoin ASIC miner produced by leading hardware manufacturer Bitmain. The Antminer S19 Pro, mining SHA-256 algorithm, boasts a hashrate of 110 terahash per second (TH/s) with an energy efficiency of 29.5 joules per terahash (J/TH) and a power consumption of 3250W.
Neptune's secured order of 200 S19 Pro machines is expected to be delivered and functioning by the end of summer 2021 and produce a combined hashrate of 22,000 terahash per second (TH/s). Neptune will continue to work with partners and suppliers that focus on renewable power aligning with Neptune's green Bitcoin initiative.
"Patience has paid off with the expansion of our Bitcoin mining operations as machines have dropped in price substantially over the last two months. We waited until we hit what we felt was the near-term bottom to make the purchase. We are excited to expand our existing fleet of mining machines with these new S19 Pros and will get them up and running as soon as possible," stated Cale Moodie, CEO of Neptune. "Our existing partnerships puts Neptune in a great position to quickly and efficiently scale our Bitcoin mining revenues while taking advantage of market pricing fluctuations. We will continue to update shareholders on the progress as new information becomes available and more equipment is procured."
At the time of this release, Neptune currently holds $47.06M in cash, investments and digital assets. The Company now holds 105 BTC, 285 ETH, 142,300 ATOM, 2,070 DASH, 1,440,400 FTM, and smaller positions in LTC, DOT, BCH, Stellar, NEO, OMG, and QTUM; as well as its investment in the Protocol Quant Fund. The Company has 298 ASIC S17 Bitcoin mining machines currently hosted with Link Global Technologies that are averaging 0.09BTC per day (based on month-to-date) or $114,000 per month at the current Bitcoin price. In addition to Bitcoin mining operations, Neptune's staking operations are generating $323,000 per month at current prices.