Post by
phoenix_trader on May 31, 2022 2:31am
Financials on Sedar, sold BTC through Q1, miners assured.
• During the three and six months ended March 31, 2022, the Company mined 195.88 and 378.65 coins respectively and ended the period with a balance of 371.98 coins. The production of bitcoin has significantly ramped during the six months as the Company continues to receive and install additional miners. Since August 31, 2021, the Company has installed 5,935 additional miners to be used for self mining.
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Significant Events, Milestones or Objectives The primary business objectives for the Company over the next 12 months are as follows:
The Company will continue to upgrade and expand the Christina Lake Facility and purchase additional Bitcoin mining servers. The full upgrade and expansion of the Christina Lake Facility and the purchase of Bitcoin mining servers is expected to occur over the course of 2022 and to be completed by the end of 2022, with a target hash rate of just over 1,000 PH/s.
The Company intends to continue selectively pursuing strategic acquisitions to either enhance the Company’s profitability or expand the Company’s client base and product offerings. In addition, the Company intends to acquire or partner on additional data centres. As of the date of this MD&A, the Company is evaluating a number of possible transactions.
The Company will continue to develop its tools, through software engineering and research and development activities, to meet both the current and anticipated needs of its customers, adding additional capabilities, and providing these at a reasonable price-point that allows the Company to be highly competitive.
The Company intends to increase its sales and marketing efforts of its Core+ initiatives both through online marketing (website traffic and social media engagement) and through outbound sales by employees or consultants.