Neptune Announces Another 53,000 Terahash of Bitcoin Miners Now Operating
Vancouver, British Columbia–(Newsfile Corp. – September 21, 2022) – Neptune Digital Assets Corp. (TSXV: NDA) (OTC Pink: NPPTF) (FSE: 1NW) (“Neptune” or “Company“), a blockchain technology and cryptocurrency leader in Canada, is pleased to announce that it has brought an additional 53 petahash per second (PH/s) mining capacity online, and these machines are now producing bitcoin.
New Bitcoin ASIC Miners
These Antminer S19 Pro Bitcoin miners have been tested, installed and are now producing Bitcoin. Antminer S19 Pro is the latest generation Bitcoin ASIC miner manufactured by leading hardware manufacturer Bitmain. Antminer S19 Pro’s mining SHA-256 algorithm has a hash rate ranging from 96 to 104 terahash per second (TH/s) with an energy efficiency of 29.5 joules per terahash (J/TH) and a power consumption of 3250W. The deployment of the Bitcoin mining machine produces a total of 52,496 Terahashes per second. The new Bitcoin miners are deployed using the Luxor mining pool and hosted by a state-of-the-art facility in the United States owned and operated by Aspen Creek Digital Corporation (ACDC). Launched in 2022, ACDC’s mission is to catalyze the decarbonisation of power generation by building the world’s leading fleet of renewable-powered high-performance computing facilities.
“We are pleased to finally be able to put in place an additional 53 petahash of mining capacity purchased at the end of 2021. The mining business has been challenging over the past 12 months, but it remains profitable and we will continue to cautiously grow these operations as we is focused on cost savings and profit margins. We look forward to a fruitful partnership with Aspen where we can expand our renewable focused mining operations. We are fortunate to have the financial means to take advantage of the current bear market and acquire assets at a discount using cash bred at the peak of the bull cycle,” said Cale Moodie, managing director of Neptun.
Issuance of stock options
The company announces the grant of stock options to purchase 2,000,000 common shares in the company’s capital to certain directors and officers of the company in accordance with the terms of the company’s stock option plan. The share options will be exercisable at USD 0.23 per ordinary share and for a period of 10 years from the date of issue.
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, blockchain- nodes, decentralized finance (DeFi) and other related blockchain technologies.
ON BEHALF OF THE BOARD
Cale Moodie, President and CEO
Neptune Digital Assets Corp.
1-800-545-0941
www.neptunedigitalassets.com
Neither the TSX Venture Exchange nor the regulatory services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
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”, “plan” , “proposal” or similar terminology. Forward-looking statements and information include, but are not limited to, the Company’s operations and sustainable future profitability; potential further improvements to profitability and efficiency across operations by optimizing cryptocurrency mining production, continuing to reduce the cost structure of direct mining and maximizing existing electrical and infrastructure capacity including with new mining equipment; continued use of cryptocurrency; the efficiency of Antminer S19 Pro Bitcoin mining machines; the estimated hash rate ranges from 96 to 104 terahash per second (TH/s) with an energy efficiency of 29.5 joules per terahash (J/TH), a power consumption of 3250W and the deployment producing a total of 52,496 terahash per second ; any statements relating to the grant of stock options to certain Neptune directors and officers. Forward-looking statements and information are based on forecasts of future results, estimates of amounts that cannot yet be determined and assumptions that, although management believes 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 company’s ability to control or predict, which may cause the company’s actual results, performance or achievements to differ materially from those expressed. or implied thereby, and has been developed based on assumptions about such risks, uncertainties and other factors set forth herein, including but not limited to: the inherent risks involved in cryptocurrency and general securities markets; the Company’s ability to mine digital currency; The company’s revenue may not increase as expected, or at all; The Company may not be able to profitably liquidate its current digital currency holdings, or at all; a decline in digital currency prices could have a material adverse effect on the Company’s business; the volatility of digital currency prices; uncertainty related to the availability and cost 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 undertakes no 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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