FORK Provides Business Updates in Light of Improved Crypto Asset Market
With significant growth seen in the overall capitalization and 24 hour trading volumes of the crypto asset markets, FORK is providing its shareholders an update on the performance of some of its projects and investments. At the beginning of March, crowdsales for both AMR and NUVO tokens will be underway, and FORK will be effectively one of the largest single stakeholders in each of these digital assets. These positive market developments create a favourable environment for FORK's investments and business endeavours in Q1 and beyond.
Vancouver, British Columbia--(Newsfile Corp. - February 25, 2019) - GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC: GBCHF) ("FORK" or the "Company") wishes to provide its investors an update on the vastly improved crypto asset marketplace, and an update on the Company's activities which correspond to this positive activity. Despite a turbulent start to 2019, in which the market capitalization of cryptocurrencies dropped to as low as USD $111 billion on February 8, 2019, and 24 hour trading volume approaching USD $12 billion on January 1, 2019, these figures reached heights of USD $143 billion market capitalization and USD $39 billion 24 hour trading volume yesterday (February 24, 2019)*. These changes indicate a gradual improvement of the crypto asset space at large, which stand to reflect a positive outlook for FORK's investments and business endeavours.
The following are some updates about the Company's current activities:
Further to the announcement in a FORK press release dated January 9, 2019, the Company has launched its masternode pooling service. Through this service, customers have the ability to pool funds that can be aggregated to provide consensus services through masternodes, servicenodes, and witnesses on a proof-of-stake basis. Given the high capital requirements to profit from proof-of-stake consensus services, this platform gives participants the unique opportunity to benefit from exposure to this asset class with any amount of capital. At this time, the platform supports consensus and masternode services on the Dash, ZenCash, Loki, Steem, and Nuvocash blockchain networks. FORK retains 15% of all gross earnings derived through this platform, giving customers the option to keep their earnings deposited and compounded on the platform, or withdraw them.
FORK continues to mine Bitcoin, which reached a price of nearly USD $4,200 yesterday, despite beginning 2019 at just over USD $3,700*. Presently, the Company is pivoting from Bitcoin mining to support other ways of acquiring digital assets including running Masternodes and Witness Nodes, providing blockchain development and consulting services and providing digital asset brokerage services. As FORK's focus has largely shifted to these disciplines, the mining operations will be discontinued at its machines' end-of useful- life or sooner.
AMR and NUVO Token Holdings
In the course of late 2018 and early 2019, FORK announced its involvement with Ammbr Foundation Pte Ltd. ("Ammbr"), and Nuvo Cash Ltd. ("Nuvo Cash") to perform services for these companies in exchange for stakes in their tokens being issued for the use of their respecive technologies (e.g. AMR will be used on Ammbr's wireless mesh network). As of this writing, FORK owns the rights to 12.0775% of the genesis block of AMR (Ammbr's proprietary crypto asset), and 5% of the genesis block of NUVO tokens (Nuvo Cash's proprietary crypto asset). These positions make FORK effectively one of the largest single stakeholders in each of these crypto assets. As these crypto assets begin to appreciate in value, this will benefit FORK and its shareholders.
The crowdsales for AMR and NUVO are being held on the Singularity Exchange (http://singularity.exchange), which is a decentralized exchange and token issuance platform. The Singularity Exchange is owned by the exchange spinoff of Global Blockchain Technologies Corp., which is a sister company to FORK. AMR's crowdsale began on January 14, 2019, and NUVO's crowdsale is scheduled to begin on March 1, 2019.
FORK President and CEO Shidan Gouran spoke positively of these developments saying, "We are thrilled to see that faith has been restored in crypto with such significant improvements over the past few days, and we anticipate that this growth will correspond to high performance of our projects and investments across the board. To date, FORK remains the only listed Canadian company covering everything from mining, to crowdsale services, to masternode pooling. With further growth of the crypto markets on the horizon for 2019, our strong combined presence in each of these categories represents excellent prospects for our shareholders."
* All market data is sourced from www.coinmarketcap.com and has been manually verified prior to publication of this release.
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Global Blockchain Mining Corp. Investor Relations
About Global Blockchain Mining Corp.
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Global Blockchain Mining Corp. ("FORK") places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. . Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "FORK". Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company's website at: www.forkcse.com
Cautionary Note Regarding Forward-Looking Information
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect","may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed onthe forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
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