BlockchainK2 Announces Agreement with Standard Power
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2019) - BlockchainK2 Corp.(TSXV: BITK) (OTCQB: BIDCF) (STU: KRL2) (the "BlockchainK2" or "Company") is pleased to announce it entered into a sale, assumption and assignment agreement and income promissory note with respect to its S9J miners with 500 N 4th Street LLC dba Standard Power. Standard Power owns and operates a site in Coshocton, Ohio with its own substation infrastructure and direct high voltage step down transformer capability that is able host up to 50 megawatts of mining capacity in the short term with ultimate power capacity of over 500 megawatts. Standard Power is positioned to be a global leader of industrial scale cryptocurrency mining. Standard Power's competitive advantage is that it is located in the USA and enjoys one of the lowest net electricity prices globally with a long term average total power price below $0.03 USD per kWh. The Company will further help identify and refer partners to leverage further its relationship with Standard Power as per a referral agreement.
Standard Power CEO, Daniel Minkowitz is pleased to announce the close cooperation between the two companies: "By working with BlockchainK2, Standard Power is now able to access the tremendous demand for cruptocurrency mining from Canada as well as leveraging BlockchainK2's strong intangible assets to accelerate our Company's growth."
About BlockchainK2 Corp.
BlockchainK2 Corp. is a holding company investing in blockchain technology solutions for capital markets and other sectors that can be made more efficient through tokenization. For information on BlockchainK2 Corp., please visit www.blockchaink2.com (http://www.blockchaink2.com/).
About Standard Power
Standard Power is the global leader for industrial cryptocurrency mining colocation. As a proud member of the Ohio Manufacturers' Association, Standard Power is "Powering American Innovation". For information on Standard Power, please visit https://standardpwr.com/ (https://standardpwr.com/).
For further information, please contact:
Sergei Stetsenko, Director
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which constitute "forward-looking statements", including information concerning the intentions, plans and future action of the Company described herein. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of a public company, currently with limited business and financial resources, as well as those risk factors discussed or referred to in the Company's continuous disclosure record available at www.sedar.com (http://www.sedar.com/). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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