Neptune Digital Assets Announces New Bitcoin Mining Machines Are Deployed and Operational
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2021) - Neptune Digital Assets Corp. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) ("Neptune" or the "Company"), a blockchain infrastructure and cryptocurrency leader in Canada, is pleased to announce the completed deployment and operation of its previously ordered 200 Antminer S19 Pro next generation Bitcoin ASIC mining machines.
The new Antminer S19 Pro Bitcoin mining machines have been tested, installed, and are now producing Bitcoin. The Antminer S19 Pro is the latest generation Bitcoin ASIC miner produced by leading hardware manufacturer Bitmain. The Antminer S19 Pro's 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. The 200 Bitcoin mining machines collectively produce a total of 22,000 terahash per second. The new Bitcoin mining machines are deployed using the Luxor mining pool and are hosted in a state-of-the-art facility in Colorado, USA.
As previously announced in the Company's September 10, 2021 press release, a further 530 new Antminer S19 Pro Bitcoin ASIC mining machines, with a total of 53,000 TH/s of mining power, are paid for and are waiting to be received and deployed at the Company's U.S. facilities. The Company will release further updates as these Bitcoin mining machines are received and activated.
Neptune currently has $60.1M in assets, zero debt and at prevailing crypto currency prices is making approximately $645,000 per month in gross earnings. Annual results for the year ended August 31, 2021 will be released prior to December 31, 2021.
"We are very pleased that our new partners, Luxor Technologies and Frontier Mining, have helped get our U.S. mining program off to a successful start. Bitcoin mining has become a core program for Neptune and we plan to continue to aggressively add to our fleet of installed miners working with proficient and capable partners throughout North America. This new deployment increases Neptune's revenues and puts the Company into an even stronger financial position as we grow our Bitcoin mining operations," stated Cale Moodie, Neptune CEO.
About Neptune Digital Assets Corp.
Neptune Digital Assets (TSXV: NDA) is one of the first publicly-traded blockchain companies in Canada and is a cryptocurrency and blockchain infrastructure leader with operations across the digital asset ecosystem including bitcoin mining, proof-of-stake mining, 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 rate of production from the Company's Bitcoin mining machines; the future receipt and successful deployment of the Company's Bitcoin mining machines; future cryptocurrency prices; the Company's future earnings and revenues; and the Company's ability to successfully add to its fleet of Bitcoin mining machines and grow its Bitcoin operations. 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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