Cryptostar signs five MW hosting deal in Alberta $$$$$$$$$$$ CRYPTOSTAR CORP. EXECUTES EQUIPMENT HOSTING AGREEMENT IN ALBERTA, CANADA
Cryptostar Corp. and a U.S.-based company (the Alberta customer) have executed an equipment hosting agreement effective Aug. 31, 2021, for five megawatts 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 five megawatts 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 $2.6-million (U.S.);
- 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 United States and Canada. Cryptostar is currently dedicated to becoming one of the lowest-cost cryptocurrency producers in North America and a major supplier of GPU (graphics processing unit) and ASIC (application-specific integrated circuit) miners around the world.