Bluesky Announces $1.2 Million Dollar Strategic Mining Hardware Acquisition
Toronto, Ontario--(Newsfile Corp. - October 19, 2021) - Bluesky Digital Assets Corp. (CSE: BTC) (CSE: BTC.PR.A) (OTCQB: BTCWF) ("Bluesky" or the "Corporation") announced today that, consistent with its previously announced plans to scale mining operations in a staged approach to increase revenue and profitability, Bluesky has formally closed another high value mining asset order.
The current new material order that was finalized on October 19th represents the acquisition of $1,183,576 CDN of custom GPU mining rigs.
This latest acquisition of highly customizable GPU mining assets from Pandaminer builds upon and leverages the relationship between Bluesky and Pandaminer that was announced on February 8th, 2021. At a time of industry chip shortages and major delays, Bluesky has executed on another major order and expects these new assets to arrive to its primary facility in the next 2-3 weeks. This custom order made to Bluesky specifications will be furthered optimized by the Bluesky technical internal team and is expected to be in full production within 45 days.
This order is focused on GPU mining technology and is reflective in great part on the success that Bluesky has had mining Ethereum (ETH), which contributed greatly to the Bluesky previous October 1st, 2021 announced record Q3 revenue results exceeding $1M for the quarter. It also reflects management's belief that GPU mining, and specifically an ETH focus at this time, is a prudent business decision and should continue to demonstrate growth and additional profitability for our bottom line.
Ben Gelfand, CEO, stated: "We continue to demonstrate our ability to execute rapidly against our plans and announced strategies. Leveraging strategic relationships in the hardware space with key vendors and industry leading players ensures that we can acquire the right hardware, at the right price points, and in a timely fashion so we can put our shareholders' investments to work."
Mr. Weicheng (Wilson) Guo, Pandaminer CEO, stated: "Our continued deep working relationship with Bluesky continues to be a mutually beneficial relationship that contributes to the positive growth and results of our respective organizations. Bluesky always demonstrates a discerning eye for equipment that is cost effective and delivers the best value for the investment. We welcome this kind of intelligent client as our customer's success ensures that we too are successful."
Anthony R. Pearlman, COO, stated: "This latest order continues our staged approach of growth for our mining operations. We continue to effectively use our capital with a business focus on revenue and the bottom line. Currently, we are actively looking to put additional capital to work for us as we acquire additional ASIC mining assets. These efforts will round out our diversified mining activities and take advantage of a strong performing virtual asset like Bitcoin (BTC)."
About Bluesky Digital Assets Corp.
Bluesky Digital Assets Corp, is building a high value digital currency enterprise. Bluesky mines digital currencies, such as Bitcoin and Ether, and is developing value-added technology services for the digital currency market, such as proprietary technology solutions. Offering a complete ecosystem of value-creation, Bluesky is targeting reinvesting appropriate portions of its digital currency mining profits back into its operations. A percentage of the profit will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, Bluesky takes an approach that enables the Corporation to scale, and respond to changing conditions, within the still-emerging Blockchain industry. The Corporation is poised to capture value in successive phases as this industry continues to scale.
For more information please visit Bluesky at: https://www.blueskydigitalassets.com
For further information please contact:
Mr. Ben Gelfand
CEO & Director
Bluesky Digital Assets Corp.
T: (416) 363-3833 T: (647) 466-4037
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward- looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation 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 expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. We seek safe harbor.
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