Bluesky Announces Additional $1.2 Million Dollar Strategic Mining Hardware Acquisition
Toronto, Ontario--(Newsfile Corp. - November 3, 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 continuing plans to scale its mining operations in a staged approach to increase revenue and profitability, Bluesky has formally closed yet another high value mining asset order.
The current new material order was finalized on November 2 and consists of $1,231,768 CAD worth 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 in the global logistics and supply chains, Bluesky, in less than three weeks' time, has again executed on another major order and expects that these new assets will arrive at its primary facility in the next 2-3 weeks. This custom order made to Bluesky specifications will be furthered optimized by Bluesky's internal technical 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 Bluesky's record Q3 gross revenue results which exceeded $1M CAD for the quarter and was announced on October 1st, 2021. This order 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.
Ben Gelfand, CEO stated: "We continue to strategically put our raised capital to work in an expedited fashion to exploit the current market conditions and increase our revenue and profitability for our shareholders."
Mr. Weicheng (Wilson) Guo, Pandaminer CEO stated: "It was just three weeks ago that I publicly indicated our strong relationship with Bluesky was providing value for both of us and this follow-up order further proves the strategic relationship continues to be mutually beneficial for all parties involved."
Anthony R. Pearlman, COO stated: "This latest order continues our staged approach of growth for our GPU mining operations as we extend our focus on Ethereum mining. We continue to effectively use our capital with an aggressive business focus on revenue and the bottom line. This recent order contains some cutting edge and high hash rate GPU mining equipment from Pandaminer that we have not used before and we are excited to expand our capabilities with advanced hardware that should give us higher returns than previous models. We are still 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
Mr. Frank Kordy
Secretary & Director
Bluesky Digital Assets Corp.
T: (647) 466-4037
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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