Bluesky Provides Bitcoin and Ethereum Mining Update for November
Toronto, Ontario--(Newsfile Corp. - December 13, 2021) - Bluesky Digital Assets Corp., (CSE: BTC), (CSE: BTC.PR.A), (OTCQB: BTCWF), ("Bluesky" or the "Corporation") announced today that the Corporation had mined an implied and combined unaudited total of $379,331 CDN worth of cryptocurrencies for the month of November which was achieved via the mining of 2.66 Bitcoin ("BTC") and via the mining of 31.88 of Ethereum ("ETH"). For further clarification, implied valuations are based on the booking price of the virtual associated cryptocurrency value at the time the mining reward is realized by the Corporation from its mining activities.
The implied valuation of the BTC amounted to $201,740 CDN and the implied valuation of the ETH amounted to $177,591 CDN for the month of November. The Corporation averaged a daily mining rate of approximately 1.06 ETH and 0.09 BTC per day in November. The percentage split on mining was 53% BTC and 47% ETH. Costs associated in the mining of the 2.66 BTC and 31.88 ETH for the month of November amounted to approx. $135,000 CDN. The costs include electrical, bandwidth, rent, and does not include depreciation on equipment.
The Corporation achieved a $12,644 CDN per day gross mining average from its active mining operations in November vs. the $12,056 CDN gross mining average per day achieved in the month of October which represented a slight increase of 4.64% over October 's daily total.
As At the date of this press release, the Corporation's crypto reserve comprised of 15.16 BTC and 285.34 ETH and was valued at $2,374,317 CDN which represents an increase of 63% over the valuation stated in the Corporation's Q3 interim financial statements.
Ben Gelfand Stated: "The Corporation has now successfully mined a combined total of $753,045 CDN worth of crypto currencies in the first two months of Q4 and we are on pace to supersede Q3's record result of $1,047,909 CDN worth of crypto currencies mined. We fully anticipate that for the next two quarters we will continue the trend of increased results."
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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107468