Neptune Expands Bitcoin Mining Operations with Secured Order of Next-Gen Mining Machines
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2021) - NEPTUNE DIGITAL ASSETS CORP. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a leader in diversified cryptocurrency and blockchain assets, is pleased to announce that it has secured the purchase of new next-generation mining machines for its continued strategy to scale its Bitcoin mining operations.
The mining machines were sourced through Neptune's growing network of global blockchain partners providing it with the highest performing mining hardware available. The Antminer S19 Pro is the latest generation Bitcoin ASIC miner produced by leading hardware manufacturer Bitmain. The Antminer S19 Pro, mining SHA-256 algorithm, boasts a hashrate of 110 terahash per second (TH/s) with an energy efficiency of 29.5 joules per terahash (J/TH) and a power consumption of 3250W.
Neptune's secured order of 200 S19 Pro machines is expected to be delivered and functioning by the end of summer 2021 and produce a combined hashrate of 22,000 terahash per second (TH/s). Neptune will continue to work with partners and suppliers that focus on renewable power aligning with Neptune's green Bitcoin initiative.
"Patience has paid off with the expansion of our Bitcoin mining operations as machines have dropped in price substantially over the last two months. We waited until we hit what we felt was the near-term bottom to make the purchase. We are excited to expand our existing fleet of mining machines with these new S19 Pros and will get them up and running as soon as possible," stated Cale Moodie, CEO of Neptune. "Our existing partnerships puts Neptune in a great position to quickly and efficiently scale our Bitcoin mining revenues while taking advantage of market pricing fluctuations. We will continue to update shareholders on the progress as new information becomes available and more equipment is procured."
At the time of this release, Neptune currently holds $47.06M in cash, investments and digital assets. The Company now holds 105 BTC, 285 ETH, 142,300 ATOM, 2,070 DASH, 1,440,400 FTM, and smaller positions in LTC, DOT, BCH, Stellar, NEO, OMG, and QTUM; as well as its investment in the Protocol Quant Fund. The Company has 298 ASIC S17 Bitcoin mining machines currently hosted with Link Global Technologies that are averaging 0.09BTC per day (based on month-to-date) or $114,000 per month at the current Bitcoin price. In addition to Bitcoin mining operations, Neptune's staking operations are generating $323,000 per month at current prices.
About Neptune Digital Assets Corp.
Neptune Digital Assets aims to be a cryptocurrency leader with diversified assets and cryptocurrency operations across the digital asset ecosystem including bitcoin mining, tokens, proof-of-stake cryptocurrencies, decentralized finance (DeFi) and associated blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release contains certain "forward-looking statements" and certain "forward-looking information" as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans", "proposes" or similar terminology. Forward-looking statements and information include, but are not limited to, the anticipated total hash rate of the S19 Pro Bitcoin mining machines; the Company's ongoing business relationship with its partners and suppliers; the anticipated timing for commencing operations of the S19 Pro Bitcoin mining machines; the future rate of production from the Company's Bitcoin mining machines; the revenues from the Company's mining and staking operations;; the future scaling of the Company's Bitcoin mining operations; the Company's ability to grow and optimize its proof of stake operations; the Company's future earnings and operating costs; the Company's future growth in total assets; the Company's strategy to purchase crypto currency and optimize its crypto portfolio; the Company's ability effectively dollar cost average its purchases of crypto currency; and the future outlook of the crypto currency market generally. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the cryptocurrency and general securities markets; the Company's ability to successfully mine digital currency; revenue of the Company may not increase as currently anticipated, or at all; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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