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Bullboard - Stock Discussion Forum HyperBlock Inc HYBOF

Financial Services Capital Markets
HyperBlock Inc is a diversified crypto leader. The company helps individuals and businesses to create, safeguard, manage and grow crypto assets. It mines Bitcoin, Bitcoin Cash, Dash, Zcash, Litecoin, and Ethereum. The company generates its revenue through Mining-as-Service hash rate sales, hosted mining and server sales.

GREY:HYBOF - Post Discussion

HyperBlock Inc > Final Count Down!
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Post by KingBill on May 14, 2020 1:38pm

Final Count Down!

 

ORIGINAL: HyperBlock Provides Update on Operations

Datacenter Goes Offline; Mining Operations Cease

2020-05-14 13:17 ET - News Release

 

Toronto, Ontario--(Newsfile Corp. - May 14, 2020) -  HyperBlock Inc. (CSE: HYPR) ("HyperBlock" or the "Company") announced today that the Company's 20MW datacenter is now offline and the company has ceased all cryptocurrency mining operations.

As previously disclosed, the Company's electricity provider terminated its long-term power contract with the Company effective May 14, 2020. This termination, combined with the impact of the recent Bitcoin algorithm halving, which cut the Company's mining rewards in half, and the Company's generally deteriorating working capital position, have made it unable and uneconomical to continue operations.

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HyperBlock Inc