Bluesky Digital Assets Corp., Enters Into a Joint Venture Agreement with Monbanc. The Joint Venture Has Selected Bitmain's S19 Pro Hydro As the Miner of Choice for Its Mining Operations in Texas
Toronto, Ontario--(Newsfile Corp. - April 6, 2022) - Bluesky Digital Assets Corp., (CSE: BTC), (OTCQB: BTCWF), ("Bluesky" or the "Corporation") is pleased to announce that effective of the date of this press release, the Corporation had entered into a strategic Joint Venture Agreement (the "JV") with Monbanc Corporation ("Monbanc") with the purpose of immediately expanding the Corporation's current Bitcoin mining operations and capabilities in the State of Texas. The Texas based operations have the capability of expanding up to 175 MW in electrical capacity. Monbanc is controlled by Mr. Daniel Rafuse who serves as a Director of the Corporation.
Phase 1 of the JV operation included both Bluesky and Monbanc each acquiring a 50% working interest in an industry revolutionary and "state of the art" 1MW Bitmain Antbox Liquid Cooling System (the "Antbox") which will house a combined 195 S19 Pro+ Hyd ("S19 Hydro") ASIC Miners which are hydro / liquid cooled.
The S19 Hydro ASIC miners will be housed in the Antbox, and all of the units utilize a new hydro-cooled power supply that has a minimum 95% conversion rate efficiency which achieves a considerable energy savings over mining operations run by traditional air-cooled systems. The hydro-cooled power supply results in significantly lower electrical costs while providing greater environmental protection.
Furthermore, the S19 Hydro ASIC miners are all dust proof and operate with no cooling fans which eliminates dust intake into the miners and eliminates downtime from broken fans and dust cleaning maintenance required for traditional air-cooled systems. Noise generated by hydro-cooled miners is reduced by a factor of 80% vs. traditional air-cooled fan-based mining systems.
The S19 Hydro ASIC miners were designed for, and are ideal for, mining operations in hot climates. The Antbox system that will house the S19 Hydro ASIC miners, will maintain stable low temperatures in even the hottest climates - something that has been long sought out in an industry in which even a 1 degree centigrade of temperature can make a substantial difference across multiple units.
In total, the Corporation paid $714,880 USD / $899,605 CAD for its portion of the equipment with the other $714,880 USD being paid by the Corporation's joint venture partner.
Blueksy's portion of the Antbox and the S19 Hydro ASIC miners will increase the Corporation's Bitcoin mining capabilities by a minimum 18.5 PH/s which would amount to approx. $114,380 CAD per month in additional gross revenue based on BTC being priced at $45,000 CAD per BTC and based on the minimum PH/s achieved. At the time of this press release, Bitcoin was priced approximately at $56,000 CAD and therefore based on a valuation of $56,000 CAD per Bitcoin the Corporation would anticipate seeing an additional $142,340 CAD per month in gross revenue from its joint venture share of the equipment's earned mining gross revenue.
The Antbox, and the 195 S19 Hydro ASIC miners, are expected to arrive at the Corporation's Texas based facility and be put into operation at some point between late June and early July of this year. The Corporation plans to order additional Antbox's in Q4 of this year.
Ben Gelfand CEO stated: "The selection of the S19 Hydro was based on the fact that the cooling technology makes this miner the ideal unit to withstand any temperature uptick in the Texas region. The strategy we are targeting is to acquire and to have a minimum of 10 MW of these units in operation between Q4 2022 and Q1 2023."
Daniel Rafuse Chairman of Monbanc stated: "The S19 Hydro is nearly double the Terrahash of the closest miner in the market and by populating our Texas facility with the most efficient miners, we stand to reap from a bull market and aim to withstand the bear."
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 digital mining proprietary software. Offering a complete ecosystem of value-creation, Bluesky's digital currency mining may re-invest its mining profit. 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 digital currency industry. The Corporation is poised to capture value in successive phases as this industry continues to scale. For more information, please visit www.blueskydigitalassets.com or www.blueskyintel.com.
About Monbanc Corporation
Monbanc offers a wide variety of support services to both publicly traded and private cryptocurrency mining companies including digital asset mining hosting solutions, trading finance, hosting repair and fleet management. For more information on Monbanc and the services Monbanc provides and offers please visit the company website at www.monbanc.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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