Vancouver, British Columbia- (January 25, 2018) – GLOBAL BLOCKCHAIN TECHNOLOGIES CORP. (CSE: BLOC) (FSE: BWSP) (OTC Pink: BLKCF) (“GBT” or the “Company”) today announced that it has entered into an agreement with a turnkey mining operator (“Montana Agreement”) to operate Global Blockchain’s 6,666 Antminer S9 bitcoin miners, with anticipated delivery commencing in March 2018. (Please refer to the press release dated Dec, 27, 2017.)
“According to industry information this operation should rank very well across competing operations in North-America, once complete,” stated Shidan Gouran, President of Global Blockchain. “We are extremely pleased to have been able to find the right partner to operate and monetize our machines and to provide us with the ability to grow into an existing first-rate facility at a large scale of 100 MW.”
The Company’s industry-leading energy and mining partner has already made 64MW available, the balance available in early Q2. The facilities are located in Anaconda and Butte, Montana, taking advantage of its cool climate, and include a world-class secure data center facility utilizing best of breed technology. Discrete hot and cold aisles support cooling infrastructure with forced air intake along with custom racking designed for maximum density and reducing overall PUE for the facility. Custom software monitors the miners’ operating statistics and automatically detects and diagnoses problems in real-time. The facility has exclusive access to an on-site substation allowing for reliable power.
BLOC is examining the purchase of additional Antminer S9s to be delivered in the second quarter of 2018. On site technicians will accommodate the immediate set-up of machines to begin mining upon arrival in late Q1 and early Q2. The Company intends to occupy the entire 100MW of mining capacity.
The Antminer S9 mining rigs being delivered to BLOC include Bitmain’s BM1387 chips that are built using TSMC’s 16nm FinFET technology. Each chip delivers an impressive 0.098 J/GHs, making it the world’s most efficient bitcoin mining chip in the consumer market. Each Antminer S9 employs 189 such chips to deliver higher hashrate and efficiency than any previous bitcoin miner. The Antminer S9 is able to mine any cryptocurrency using the SHA256 algorithm, including Bitcoin and Bitcoin Cash.
SPINOUT OF GLOBAL BLOCKCHAIN MINING AS STAND-ALONE PUBLICLY LISTED ENTITY
“With all the existing investments such as Kodak, Millenial, Breaking Data, Spectra7 and our intention to create and tokenize these and other brands together with their substantial active user communities within GBT, Global Blockchain Mining Corp. represents an independent, highly viable pure play cryptocurrency mining Company with a unique business model differentiated from the other verticals and focuses within Global Blockchain Technologies Corp.”, stated Shidan Gouran.
The Company intends to pursue a plan of arrangement to liberate the value in its mining division. Through the arrangement the Company intends to list Global Blockchain Mining Corp, along with all of its mining interests, as a publicly listed Canadian entity.
The spinout will be on a one-for-one basis with every share held of Global Blockchain Technologies Corp., entitling the holder to one share of Global Blockchain Mining Corp.
The Company has set the annual general and special meeting (the “Meeting”) at April 10, 2018. All shareholders as of the record date, March 1, 2018 will be entitled to vote at the Meeting, as well as to the spinout share.
The completion of the arrangement and the listing of Global Blockchain Mining will be subject to regulatory approval of this transaction, the approval of shareholders, the Supreme Court of British Columbia, and the CSE, which is not guaranteed.
The anticipated assets of Global Blockchain Mining Co
A) 6,666 machines and 100 mw of power as per above
B) The proposed acquisition of Coinstream (Please refer to press release dated November 7, 2017 and December 12, 2017)
C) Coinstream’s additional assets including its stake in Distributed Mining (Please refer to press release dated November 15, 2017)
TERMS OF THE MONTANA AGREEMENT
Under the terms of the agreement, the mining operator will provide a “turnkey” solution to BLOC at a total all-in operating cost of 10c per kWh, and 20% of coins mined from the Company’s 6,666 Antminer S9s.