CSE New Listing - Link Global Technologies Inc. Commences Trading on the Canadian Securities Exchange - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2019) - Link Global Technologies Inc. (CSE: LNK) is one of the latest new listings on the Canadian Securities Exchange. The company is engaged in the business of providing infrastructure and operating expertise for cryptocurrency mining and blockchain technology.
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The company has a facility located in Boardman, Oregon, which has 2.4 megawatts of power onsite to power 500 bitcoin mining computers with the ability to expand if desired. The company also has leased premises in Beaver Falls, British Columbia with 550 machines commissioned at the facility during May and June of 2019.
As at September 30th, more than 13.5 Bitcoins have been produced at Beaver Falls and the company anticipates increased production as the system is refined. The breakeven point for current operations at the Beaver Falls Facility for 550 machines operating is 3 Bitcoins per month assuming a price per Bitcoin of US$10,000.
To date, the company has only mined Bitcoins due to the liquidity and size of the Bitcoin market. However, if other coins are more profitable to mine, management may decide to mine other cryptocurrency coins. The company's policy is to not hold Bitcoins for any appreciable time in order to minimize exposure to significant losses through theft and fluctuations in the price of Bitcoins.
The company plans to provide all‐in hosting services and has the expertise to pursue its plan to build and sell semi‐portable data warehouses into the marketplace, which could add to the company's ability to generate revenues.
The company completed its IPO, raising gross proceeds of $1.5 million from the placement of 5 million shares priced at $0.30 per share, with Leede Jones Gable acting as agent for the Offering.
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Barry Morgan, CFO
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