Graph Blockchain's Babbage Mining Profited 88%
Toronto, Ontario--(Newsfile Corp. - October 20, 2021) - Graph Blockchain Inc. (CSE: GBLC) (OTC Pink: REGRF) (FSE: RT5A) ("Graph") or (the "Company") is pleased to provide an update on the cryptocurrency Cardano and the Company's position through its wholly owned subsidiary Babbage Mining Corp. in Cardano's native token ("ADA").
The Company exited from its position in ADA and is pleased to announce that it generated capital gains and yield of $703.7K or 88% in a 7 month period beginning on March 29, 2021. The subsidiary had purchased a total of CDN $800k in digital assets.
Paul Haber, CEO of Graph Blockchain Inc. commented, "The company is extremely gratified with the growth we have made so far with the appreciation of our growing crypto portfolio. In the weeks and months ahead, we will continue to watch the basket of crypto assets in the portfolio as we further monetize our cash position and continuously innovate in the decentralized finance market."
With the ongoing maturity of crypto finance, the Babbage Mining team offers high performance and ample decentralized finance knowledge and has an incredible perspective on the cryptocurrency market focused on growing the value of the portfolio.
By mining altcoins through Proof of Stake, Babbage can provide to its investor's exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains that altcoins represent.
About Graph Blockchain Inc.
Graph Blockchain provides shareholders with exposure to various areas of Decentralized Finance (DeFI). Focusing on altcoins through its wholly owned subsidiaries Babbage Mining Corp., a Proof of Stake ("POS") miner, and Beyond the Moon Inc. an IDO focused company, Graph gives investors exposure to the vast emerging market of cryptocurrencies with the significant technological disruption and potential gains altcoins represent. In addition, through its investment in New World, Graph is providing its shareholders with exposure to rapidly growing and emerging NFT market.
For further information, please contact:
Joshua Greenwald / Kristin Cwalinski
Phone: 646.379.7971 / 603.475.3550
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the continued growth of the art-focused NFT market. Forward-looking information in this news release are based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the potential inability of New World to continue as a going concern; the risks associated with the blockchain and NFT industry in general; increased competition in the art-focused NFT market; the potential future unviability of the NFT market in general, and the art-focused NFT market in specific. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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