Vancouver-based
SPIRIT Blockchain, a company that bridges blockchain technologies and digital-assets to traditional capital markets, announced Wednesday its Letter of Intent (LOI) for an investment of $24 million toward Calgary-based cryptocurrency mining venture
Blackcloud Crypto Investments to support the development of its crypto mining operations.
SPIRIT’s strategy is three-fold:
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Become an investor in the blockchain ecosystem with specific focus on the Bitcoin (BTC), Ethereum (ETH) and Altcoin (ALT)
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Mature into a global blockchain operator through joint venture arrangements with key infrastructure companies
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Provide investment exposure to the rapidly growing blockchain ecosystem
Image via SPIRIT corporate presentation.
SPIRIT has also established an Advisory Board with experience and technical expertise and plans to become a leading authority and supporter of blockchain
.
Blackcloud will use these new funds to build out its core infrastructure, order mining hardware and generate revenue.