NEW YORK, May 14, 2018 /PRNewswire/ --
According to Coherent Market Insights, the cryptocurrency mining market was valued at 610.91 million in 2016 and is expected
to reach US$ 38.38 billion by 2025, while growing at a compound annual growth rate of 29.7 percent
during the forecast period. The revenue from cryptocurrency mining includes earning block rewards and transaction fees in return
to efforts to process cryptocurrency transactions. The report indicated that the large enterprises segment accounted for over 70
percent of the cryptocurrency mining market in 2016 and is expected to witness highest growth due to its enhanced hashing power
and participation of large number of users in their pools. Internet of Things Inc. (OTC: INOTF), MGT Capital Investments, Inc.
(OTC: MGTI), Seven Stars Cloud Group, Inc. (NASDAQ: SSC), Global Blockchain Technologies Corp. (OTC: BLKCF), Victory Square
Technologies Inc (OTC: VSQTF)
According to CNBC, investment research firm Fundstrat expected that the economics of bitcoin mining could help support the
current level of cryptocurrency price. Fundstrat estimated the newer Antminer S9 could lower the break-even price for bitcoin
mining. According to CoinMarketCap, bitcoin price was traded at $8,556 on Friday. Sam Doctor, head of data science research at Fundstrat, said in a report. "We believe the current path of hash
power growth supports a BTC price of about $36,000 by 2019 year-end, with a $20,000-$64,000 range."
Internet of Things Inc. (OTC: INOTF) also listed on the TSX Venture Exchange under the ticker (TSX-V: ITT). Earlier
today the company announced breaking news that it, "has entered into a letter of agreement to acquire Weather Telematics Inc.
("WTX Inc." or "Weather Telematics") a data science company offering real-time advanced artificial intelligence (AI) based
predictive road condition weather analytics for safer, connected and autonomous transportation.
The Company intends to acquire 100% of the issued and outstanding shares of WTX Inc. for $2.53
million on the following terms: (i) $230,000 in cash payable at closing; (ii) $300,000 in cash payable on the 6-month anniversary post closing; and (iii) $2,000,000 in IoT Inc. treasury shares priced on a 5-day VWAP [Rick-Should we include "post this announcement"]
with 50% of the shares to be released over three years on the 12th month, 24th month and 36th month anniversaries post closing
and the 50% balance to be release on achieving $8.2 million minimum net sales target over 36 months
[Rick-Should we include? "with pro rata releases every six months"].
Weather Telematics uses an AI system, a proprietary mobile sensor network and a data fusion platform to generate its data. WTX
Inc. has developed a unique set of meteorological data (based on hundreds of millions of miles of road weather data) that allows
it to make real-time hyper-local road condition predictions. Weather Telematics has patents pending in multiple jurisdictions for
its sensor and a growing sales pipeline consisting of globally recognized automotive OEMs, electric vehicle manufacturers,
telematics and logistics companies, media companies, and insurance companies. In addition, IoT Inc. will look to expand WTX Inc.
into China through its New Hope IoT Intl Inc. joint venture partnership.
Weather Telematics has assembled a strong and highly qualified management team, led by Robert
Moran, CEO: Mr. Moran is an accomplished serial technology entrepreneur with several successful exits, he will continue to
lead WTX Inc.; Darryl Smith, Chief Technology Officer, has co-founded four technology start-ups;
Michael Keefe, Chief Strategy Officer, has 20+ years of senior management experience driving
innovation and global market growth; and Dr. Shiven Sharma, Chief Data Scientist, has conducted
extensive research in the field of AI, particularly machine learning, and has published over a dozen research papers on the
subject matter.
"We are excited to launch a new era of growth for WTX with IoT Inc.," said Robert Moran, CEO of
Weather Telematics. "IoT Inc.'s vision closely aligns with our strategy to apply AI-based predictive data and IoT sensor networks
to solve some of the global challenges facing the transportation, insurance, and weather sectors."
"Weather Telematics is poised for significant growth with a clear path to increased revenue and profitability. Since the
signing of our global distribution agreement with WTX Inc. this past fall, we have worked alongside their team and have been
extremely impressed with their progress," said Michael Frank, CEO of IoT Inc. "We are looking
forward to working with Weather Telematics management even more closely to accelerate and expand their market penetration and
maximize return on investment for our shareholders."
It is anticipated that IoT Inc. will close the acquisition of WTX Inc. by May 31, 2018. The
transaction is subject to the approval of the TSX Venture Exchange.
About Weather Telematics Inc. - Founded in 2010, Weather Telematics Inc. is a Canadian-based, IoT data science company
offering road safety data products for industrial, government and consumer markets. Weather Telematics uses a proprietary
vehicle-mounted mobile IoT sensor network and AI machine learning system to generate real-time and predictive road weather
conditions, road hazard risk alert notifications and dynamic routing applications. The Weather Telematics platform mitigates
weather risk, reduces traffic congestion and makes connected and autonomous navigation safer in all types of road conditions.
To learn more, visit: http://www.weathertelematics.com
Follow Weather Telematics on: Twitter: https://twitter.com/weathertx
About Internet of Things Inc. - Internet of Things Inc. is a strategic investor in growth-ready companies with innovative
technology solutions. We create value through our portfolio companies' expertise in the Internet of Things, Artificial
Intelligence and Blockchain, as they turn data into actionable intelligence and make everyday business smarter. The Company has a
joint venture partnership, New Hope IoT Intl Inc., with New Hope Data Technology Co. Ltd. IoT Inc. and also has strategic
investments in Braingrid Corp. and Blockstrain Technology Corp. The Company has its headquarters in Toronto, Canada.
MGT Capital Investments, Inc. (OTCQB: MGTI) ranks as one of the largest U.S. based Bitcoin miners. Further, the Company
continues to execute on an expansion model to grow its crypto assets materially. Earlier this year the company announced that it
has executed a new purchase order with Bitmain Technologies for 1,000 S9 Antminer mining rigs, with shipment expected in
March 2018. Also, the Company purchased and has received an additional 1,000 new S9 Antminers from
a third party. Following shipment and setup, and in conjunction with the Company's current rigs in operation or undergoing
deployment, MGT's cryptocurrency mining operations will be comprised of over 7,000 Bitmain S9's plus 50 GPU-based Ethereum
miners. The Company expects all rigs announced to date to be operating by the end of the first quarter of 2018, at which point
the machines are expected to generate nearly 100 Ph/s of total hash power.
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to become a next generation Artificial-Intelligent (AI) &
Blockchain-Powered, Fintech company. On April 17, 2018, the company announced a digital asset
distribution agreement with GT Dollar Pte. Ltd. (GTD), a Singaporean-based global virtual credit clearing system operator
connecting over 2 million businesses worldwide. GTD will be will launching a digital asset exchange and trading platform on its
GT Dollar App that will exclusively facilitate the listing, quotation, trading and settlement of digital index products offered
by SSC. The distribution agreement will offer the Company a built-in audience to market its digital financial products to by
leveraging GTD's vast financial products sales network in Southeast Asia.
Global Blockchain Technologies Corp. (OTC: BLKCF) a lead investor in the KODAKOne platform, announced last week that
that WENN Digital, Inc., the operator of the KODAKOne Image Rights Management Platform ("KODAKOne"), a blockchain-based image
rights management and protection platform, announced it will officially commence the $1.00 round of
its offering of the Simple Agreements for Future Tokens (SAFTs) on May 21, 2018. Shidan Gouran, President & CEO of the Company said, "BLOC incubates, founds, partners and strategically
invests in companies who are committed to innovating and developing technology to improve and change industries. Our investment
in KODAKOne is now progressing to a fully commercial offering, which should rank as one of the very first security compliant
offerings in Blockchain."
Victory Square Technologies Inc (OTC: VSQTF) earlier this month announced thatreturns from the World Blockchain Forum:
Investments & ICOs Conference in Dubai, United Arab Emirates, with newly-formed partnerships
and investments in three promising blockchain companies that won awards for their presentations in Dubai. The longest-running and highest-attended financial conference for the bitcoin, blockchain and
cryptocurrency industries in the Middle East saw over 1,000 attendees converge in Dubai for the two-day event that took place April 16 and 17, 2018. It saw
Victory Square partner with Keynote, the World Blockchain Forum to present the top 3 ICOs Award at the event. The three emerged
from the 30 companies that were vetted and selected by the World Blockchain Forum to present their ICOs (with those 30 drawn from
an initial pool of applicants).
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News,
Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company
Interviews. A pioneer in the financially driven digital space, video production and integration of social media,
FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination,
branding, marketing and advertising for third parties for corporate news and original content through our unique media platform
that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial
Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not
undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided
[exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into
media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials
for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the
information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting
high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com
does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along
with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our
unique financial newswire and media platform. For Internet of Things Inc. financial news dissemination and PR services,
FinancialBuzz.com expects to be compensated five thousand dollars by the company. Our fees may be
either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination
thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on
or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments
for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site
or continue to post information about any companies the information contained herein is not intended to be used as the basis for
investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is
not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for
any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other
materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of
their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance,
and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound
by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com
constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment
strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is
solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives,
other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and
legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless
of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be
reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please
visit: http://www.financialbuzz.com .
Media Contact:
info@financialbuzz.com
+1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com