(TheNewswire)
Company expected to Deploy a total of 3,500 Rigs by next week
VANCOUVER, BC / TheNewswire / September 6, 2018 –
HashChain Technology Inc. ("HashChain" or the "Company") (TSXV: KASH; OTCQB: HSSHF) is pleased to announce the receipt of
2,500 Rigs (“Rigs”) at their data center from its recently closed its acquisition of two cryptocurrency mining companies. These
Rigs, along with an additional 1,000 Rigs already in the Company’s possession, are expected to be deployed next week.
The Company has mined 197.59 Bitcoin and 60.09 Dash since deploying the additional 4,000 Rigs disclosed on July 18, 2018.
Since this deployment, HashChain accumulated a gross value of CAD $1,770,000 from
Bitcoin and CAD $14,000 from Dash, based on coinmarketcap.com prices for both digital currencies on September 5, 2018 (CAD $8,965,
CAD $30). The company will not be receiving Canadian dollars (or any other fiat currency) as a result of the company's plans not to
convert the Bitcoin or Dash into fiat currency and until the company's plans change, at which time there can be no assurances
that the price of Bitcoin or Dash will not significantly decrease due to its price volatility or that Bitcoin or Dash could be
converted into Canadian dollars (or any other fiat currency) at that time.
HashChain currently operates 8,495 Rigs at approximately 13 megawatts (“MW”) of computing power in the Company’s
Vancouver, Montana, and Buffalo mining facilities. Upon deployment of an aggregate total of 11,995 Rigs, HashChain is expected to
be mining with approximately 17.5 MW of power.
“We are extremely proud as an organization that we have always stayed true to our original goals,” says Patrick Gray, CEO
of HashChain, “in under a year we have become a major player in the cryptocurrency mining space. We have acquired 11,995 rigs and
will have over 168 peta Hash running 24/7. I believe strongly in Bitcoin, HashChain and the entire Blockchain space. The next few
years will be very exciting for us as a company as well as all of our investors who share our forward thinking vision.”
HashChain notes there are material costs associated with mining and it will need to complete its next quarterly financial
statements to have complete details on such costs. The Company will report full costs associated with mining in its financial
statements.
The Company further announced today that it has granted an aggregate of 9,250,000 stock options to certain directors,
officers, consultants and employees pursuant to the Company’s Stock Option Plan. The options are exercisable at a price of
$0.105 per share for a five-year term and vest immediately.
About HashChain Technology Inc.
HashChain is a blockchain company, and the first
publicly traded (TSXV: KASH; OTCQB: HSSHF) Canadian cryptocurrency mining company to file a final prospectus supporting highly
scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-cost North American power, cool
climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the
number of mining 'wins.' HashChain currently operates 100 DASH mining Rigs and 8,395 Bitcoin Rigs with an additional 3,500 Rigs to
be deployed from its previously announced acquisitions. Once all Rigs are operational, HashChain’s mining operations will
consist of 11,995 Rigs consuming approximately 17.5 megawatts of power. HashChain also acquired two Dash Masternodes, which
requires a collateral investment of 1,000 DASH coins for each Masternode.
HashChain Mining is a wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York, and
an office in Vancouver, British Columbia.
On Behalf of the Board,
Patrick Gray
CEO & Director
For Further information please contact:
HashChain Technology Inc.
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements: This release includes certain statements and information
that constitute forward-looking information within the meaning of applicable Canadian securities laws, including statements
regarding the performance of the Rigs, the anticipated timing and successful installation of an aggregate of 3,500 Rigs, the
expected consumption of 17.5 megawatts of power and the Company’s expected operation of a total of 11,995 Rigs may constitute
forward-looking statements. Generally, forward-looking statements and information can be identified by the use of forward-looking
terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events
or results “may”, “could”, “should” or “would” occur. Forward-looking statements are based on certain material assumptions and
analysis made by the Company and the opinions and estimates of management as of the date of this press release, including that the
Company will successfully install an aggregate of 3,500 Rigs by the end of next week, that the Company will successfully operate an
aggregate of 11,995 Rigs and such operation, including expected energy consumption, will be consistent with management’s
expectations. Although the Company considers these assumptions to be reasonable based on information currently available to
it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties
and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking
statements. Such risk factors may include, among others, that the Company will not successfully install an aggregate of 3,500 Rigs
or such installation will be delayed past next week, that the Company will not successfully operate a total of 11,995 Rigs and that
the Rigs will not be performing optimally as anticipated by management. Readers are cautioned not to place undue reliance on
forward-looking statements. Although management of the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are
cautioned that reliance on such information may not be appropriate for other purposes. The Company does not intend, and
expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.
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