Executes Equipment Hosting Agreement in Alberta, Canada TORONTO, Aug. 31, 2021 /CNW/ - CryptoStar Corp. (TSXV: CSTR) ("CryptoStar" or the "Company"), a cryptocurrency mining and data centre operator, is pleased to announce that the Company and a U.S. based company (the "Alberta Customer") have executed an equipment hosting agreement (the "Hosting Agreement") effective August 31, 2021 for 5 MW of mining capacity to be deployed in Alberta, Canada.
Equipment Hosting Agreement
Under the terms of the Hosting Agreement, the Company will provide hosting services and infrastructure to the Alberta Customer for 5 MW of mining capacity at its data centre locations in Alberta, Canada.
Highlights of the Hosting Agreement:
- Annual hosting and power revenues for the Company of up to USD$2.6 million.
- Initial hosting term of 12 months, with the option to renew for an additional 12-month term.
- Hosting services for the Alberta Customer to commence in Q4, 2021.
David Jellins, President and Chief Executive Officer of CryptoStar stated, "We are delighted that the Alberta Customer has selected CryptoStar as its hosting provider. We are looking forward to providing hosting services to the Alberta Customer and we anticipate that this will be the beginning of a long term and mutually beneficial relationship."
About CryptoStar Corp.:
CryptoStar has cryptocurrency mining operations with data centres located in the U.S.A. and Canada. CryptoStar is currently dedicated to becoming one of the lowest cost cryptocurrency producers in North America and a major supplier of GPU and ASIC miners worldwide.
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