Update on BlockMint's Cryptocurrency Mining Operation in the USA
Vancouver, British Columbia--(Newsfile Corp. - April 20, 2022) - BlockMint Technologies Inc. (TSXV: BKMT) ("BlockMint" or the "Company") is pleased to provide an update on its Bitcoin mining operation which commenced on December 3, 2021 with fifty new S19 Antminers at a third-party hosting facility in Washington state. Since the start of mining operations, approximately 2.76 Bitcoins have been mined, equivalent to US$110,490 based on a Bitcoin price of US$40,000. For the most recent three month period (i.e. January 1st - March 31st 2022), the amount mined was approximately 2.07 Bitcoins. There is no guarantee of future mining or financial performance which is subject to a number of factors including Bitcoin price, mining difficulty rate, electricity prices, machine performance, etc.
BlockMint's CEO, Nelson Ijih, commented: "We are pleased with the early results of our US-based Bitcoin mining operation which is powered by clean, green hydro-power. This crypto mining operation is complimentary to our Minter browser which allows users to mine cryptocurrency to earn carbon credits or fractional interests in a NFT. The Company may scale-up its crypto-mining operations depending on future financial results and prevailing market conditions."
About BlockMint Technologies Inc.
BlockMint, through its wholly owned subsidiary, Blockmint (USA) Technologies Inc., operates a cryptocurrency mining operation in the state of Wahington, USA and develops distributed systems and networks that enable a more decentralized deployment of blockchain based applications such as cryptocurrency mining. The Company's Minter browser allows users to use their spare computing power to mine cryptocurrencies to earn either: (i) carbon credits to help offset their carbon footprint; or (ii) fractional ownership in a NFT. The current version of Minter is for use on desktops and laptops with a Windows operating system and is available at getminter.com.
On behalf of
BLOCKMINT TECHNOLOGIES INC.
Nelson Ijih, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the business strategy and objectives of BlockMint. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. There is further no assurance that the Company will be successful in profitably operating its expanded cryptocurrency mining business in the manner described. Accordingly, readers should not place undue reliance on forward-looking statements. The Company 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 required by law.
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