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This Company is Already Generating Revenue in Canada’s New Data Frontier

Jon Brown Jon Brown, Stockhouse
0 Comments| March 9, 2021

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(Image via SkyChain Technologies Inc.)


Considered the future of enterprise data processing, Edge computing promises major leaps in data processing, as it allows internet consumers to use more connected applications and devices with minimal latency / lag time and network congestion.

Gartner Research & Advisory predicts that by 2025, as much as 75% of enterprise data would be generated and processedClick to enlarge through Edge computing and cloud gaming will be a primary user.

This comes as Vancouver-based SkyChain Technologies Inc. (TSX-V: SCT, Forum) moves to expand its data centre services to provide Edge computing for cloud gaming and other high-data applications such as rendering for film and animation.

Skychain provides blockchain infrastructure services and power solutions to cryptominers as an all-in-one solution by offering warehouse space, low-cost electricity, and maintenance and hosting services. The Company provides power and energy solutions for large scale mining farms to help optimize mining power consumption.

Via its new operating data facility in Quebec that generates $12 million in annual revenues and its in-progress facility in Manitoba, the Company’s vision is to become a leading player in the crypto / data mining hosting by growing to 100Mw of crypto hosting capacity. To meet this goal, SCT recently signed an agreement with a cryptocurrency mining design and manufacturing company on a partnership aimed at providing SkyChain brand ASIC (Application-Specific Integrated Circuit) cryptocurrency mining machines. SkyChain's facilities include a data centre, large megawatt electrical capacity and network to support the required high-volume data processing. Under a business plan in process, the Company is conducting testing to upgrade the current IAAS to cloud-based IAAS for expanded applications. Over the past three years, SkyChain and MiningSky have provided Infrastructure As A Service (IAAS) for cryptocurrency verification.

Skychain Technologies’ President and Chief Executive Officer, Bill Zhang, took time out of his busy schedule to answer a few questions on these developments and more ….


Thank you for joining us today. To start, could you explain for our readers what your blockchain infrastructure services are all about?

We provide power, facilities, and energy solutions for large scale cryptocurrency mining farms to help optimize mining power consumption. We also provide solutions for mining farm construction and professional all-inclusive miner hosting and colocation services to ensure our clients’ operation proceeds seamlessly. In addition, we are looking to bridge the gap between blockchain and modern technologies such as artificial intelligence, edge computing, movie rendering, 5G, and big data. Using our expertise as an IAAS (infrastructure As A service) provider, we hope to lay the foundation for bringing blockchain and modern technologies together.


For those new to your Company’s story, can you offer some details on your internet data centres that host mining computers?

Our hosting center is one way we provide IAAS to our clients. Our facilities host the clients’ cryptocurrency mining machines, and we accommodate our clients to meet their cryptocurrency needs, whether it is Bitcoin, Ethereum, or other alternative cryptocurrencies. Our hosting centers provide the infrastructure, energy, management, maintenance, and services for our clients to successfully reach their goals.

Furthermore, we have finished a POC (Proof of Concept) for movie industry rendering. Our nodes can be used not only for cryptocurrency mining, but also works perfectly for rendering movies and animation.


When people think of blockchain, the fluctuating price of Bitcoin instantly comes to mind, but as a service provider, your revenues don’t appear to depend on that, can you provide more detail?

As mentioned earlier, we are a IAAS service provider, and our hosting service is one way in which we create value for our clients, providing around the clock energy and services to meet their needs. Although we do not mine ourselves, the fluctuation of Bitcoin prices has increased the number of customers that are interested in using our hosting services.


Through the ASIC brand, SkyChain will be able to expand its operations and offer products to commercial customers, how far do you see this potential moving and what are some applications you could see it ultimately reaching?

As Bitcoin and other cryptocurrencies become more prevalent in our ecosystem, we saw potential in making Application-Specific Integrated Circuit (ASIC) miners given the high demand in the market. We want to play a part in making cryptocurrency a part of our daily lives, and we want all customers around the world to have access to our SkyChain brand miners, not just those who use our hosting services.


You are currently running a $1.25 million private placement, earmarking proceeds to upgrade capacity of the Sherbrook facility in Quebec, can you tell us a bit more about this plan?

The private placement will give us the ability to complete the acquisition of the Sherbrook facility in Quebec and allow us to operate at full capacity. This acquisition will produce healthy cash flows for the company and investors in the years to come.

What can you tell us about the Manitoba facility, what is the timeline for getting it online?

We have completed the planning phase in the development process. Once the Quebec facility is operating at full capacity, we will allocate more resources towards the Manitoba site. We are expecting to have the Manitoba site fully ready by end of 2021.


Skychain is starting a Proof-of-Concept project for the cloud IAAS with partners who will provide capital, can you give us a rundown on this project?

Cloud Gaming gives consumers the ability to play video games at anytime, anywhere, and on any device by running the games on remote cloud servers and streaming it back to the consumer. With SkyChain’s existing expertise in the hosting and cloud computing sector and our acquisition of the Quebec facility, we are in a strong position for entry into the cloud gaming space.

Looking ahead, the Company has outlined the next strategic step in its growth revolves around Edge computing. How does Skychain’s own unique high-speed equipment, venues, and energy solutions manage to be suited perfectly to Edge computing?

While edge computing is a different line of business compared to our traditional hosting services, it requires more or less the same experience and infrastructure as our existing hosting farms. Furthermore, the management team has had previous experience owning a cloud hosting business in Canada, and can apply their background knowledge and expertise to lead this new venture to success.

Looking six months to a year down the road, where do you see SkyChain Technologies?

Here at SkyChain, we want to become a leader in the newly emerging technology sector in Canada. Through our traditional hosting business, and our new ventures into the edge computing and ASIC miner space, we hope to bring the best products and services to our customers in Canada and around the world.

Thank you again for your time, anything more to add?

For more information on SkyChain brand ASIC miners, visit https://miner.miningsky.com/


To learn more about the Company, visit skychaintechnologiesinc.com.


FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.




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